UPDATE: Dahlman Rose Upgrades Thompson Creek Metals to Buy on Commodity Price Bounce
Dahlman Rose increased its rating on Thompson Creek Metals (NYSE: TC) from Hold to Buy and established a price target of $4 a share.
Dahlman Rose said, "We believe that potential negative outcomes at Mt. Milligan are fully reflected in the current TC share price. In our opinion, the recent bounce in moly prices and further potential followthrough, which should allow for the company to be in compliance with its debt covenants, and the completion of the Mt. Milligan project in late-2013, should allow the shares to trend meaningfully higher over the near-to-medium term."
Thompson Creek Metals closed at $2.51 on Thursday.
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