J.P. Morgan Neutral On Thompson Creek Metals

J.P. Morgan Chase & Co. is out with a research report on Thompson Creek Metals

and it has a Neutral rating and a $12.50 price target on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "We are maintaining our estimates and Dec 2012 price target of $12.50 for TC. 2H11 results should likely represent a low for the company while earnings should receive a boost in 2012 from higher overall moly production and in late 2013 from the start-up of Mt Milligan. We maintain our Neutral rating as our outlook for moly prices and higher capex costs are simply creating too much of a headwind for valuation." Shares of TC are up 58 cents to $7.64, a gain of 8.22%.