Market Overview

UPDATE: Dahlman Rose Downgrades Thompson Creek Metals to Hold

Dahlman Rose lowers its rating on Thompson Creek Metals (NYSE: TC) to Hold from Buy over balance sheet concerns in the near term.

Dahlman Rose notes, "We are downgrading our rating on TC shares to Hold from Buy. While we are optimistic on the long-term outlook, as the company diversifies into copper and gold, over the near-term the company's balance sheet will be strained by the significant capital expenditure requirements at its Mt. Milligan asset. Management estimates that the remaining cost to complete the Mt. Milligan and Endako expansions are $1.1 Bn. The company's available financing stands at $927 MM."

TC closed at $7.36 a share on Tuesday.

Posted-In: Dahlman RoseAnalyst Color Downgrades Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (TC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free