UPDATE: BMO Capital Markets Initiates Thompson Creek Metals at Market Perform
BMO Capital Markets initiated coverage on Thompson Creek Metals (NYSE: TC) with Market Perform rating and a $3.60 price target.
BMO Capital Markets said, "Thompson Creek is one of the largest pure-play molybdenum producers in the world. The company is listed on the TSX and NYSE. Key assets are the Thompson Creek open-pit mine in Idaho, a metallurgical roasting facility in Langeloth, Pennsylvania, a 75% share of the Endako open-pit mine in northern British Columbia and the Mt. Milligan Copper-Gold Project in British Columbia. … Thompson Creek faces a convergence of risk in 2013/2014, which constrains its long-term valuation potential."
Thompson Creek Metals closed at $2.66 on Wednesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.