A number of stock research firms have changed their ratings and price targets for Thompson Creek Metals Co (NYSE: TC) during the last seven days:

  • Thompson Creek Metals Co was downgraded by analysts at Paradigm Capital from a “buy” rating to a “hold” rating. They now have a $3.00 price target on the stock, down previously from $5.50. They wrote, “Thompson Creek continues to struggle in this low molybdenum price environment. Higher-than-planned operating costs at both of its operations have required management to cease mining operations at the Endako mine and focus on processing stockpile ore while undisclosed recovery problems in the mill are addressed, and now the cessation of stripping activities at the Thompson Creek mine effectively reduces the projected mine life to 2015 with only optionality for extensions. The visibility into the nature of current operational problems and the timing for a potential turnaround in the company’s financial fortunes have deteriorated. We have revised our financial forecast to incorporate management’s revised guidance, while simultaneously increasing our discount rate assumption to 10% at the Thompson Creek and Endako mines. We continue to apply a 0.75x NAV multiple to our estimated value of the development projects. Our NAV declines to $3.64/sh (from $6.24/sh).”
  • Thompson Creek Metals Co was downgraded by analysts at Paradigm Research from a “buy” rating to a “hold” rating.
  • Thompson Creek Metals Co was downgraded by analysts at Pacific Securities from a “buy” rating to a “hold” rating.
  • Thompson Creek Metals Co was downgraded by analysts at CIBC from an “outperform” rating to an “outperform” rating.
  • Thompson Creek Metals Co was upgraded by analysts at CIBC from an “outperform” rating to a “sector perform” rating. They now have a $5.00 price target on the stock, down previously from $6.50.

Shares of Thompson Creek Metals Co Inc traded down 7.05% during mid-day trading on Friday, hitting $2.77. Thompson Creek Metals Co Inc has a 52 week low of $2.25 and a 52 week high of $9.50. The company has a market cap of $467.4 million and a P/E ratio of 15.77.

Thompson Creek Metals Company Inc. (TCM) is a diversified mining company. It is a producer of molybdenum and has copper and gold reserves.