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Thompson Creek Metals Company Inc. Message Board

  • hockeyguy548 hockeyguy548 Feb 28, 2013 3:48 AM Flag

    Canaccord Genuity: A bounce off the 200-DMA for Thompson Creek Metals Company Inc.

    According to Canaccord Genuity:

    February 28, 2013

    Thompson Creek Metals* (TCM : TSX : $3.64), Net Change: 0.27, % Change: 8.01%, Volume: 478,180

    A bounce off the 200-DMA.

    Shares of Thompson Creek staged a relief rally. On Monday, the company, the eighth-largest molybdenum producer in the world, sold off after reporting a Q4/12 EPS loss of US$2.87, including a large writedown at the Endako mine in northern B.C. TCM decreased 2013 production guidance by 6%, and increased 2013 cash cost guidance by 4%. 2013 capex guidance increased from US$295-335 million to US$440-480 million, implying Mount Milligan capex at the upper end of the previous guidance range. Canaccord Genuity Analyst Gary Lampard believes TCM should be able to commission Mount Milligan without recourse to additional funds. Lampard is assuming start-up during Q4/13, and full production by Q2/14. Lampard expects TCM‟s cash balance to trough at US$190 million at end-2013.

 
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1.59+0.01(+0.63%)Feb 27 4:05 PMEST

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