Dahlman Rose Reiterates Buy and PT of $16 on Thompson Creek Metals Company

Dahlman Rose reiterated its Buy rating on Thompson Creek Metals Company TC. At the same time, Dahlman left its price target unchanged at $16, following a visit to the company's two projects in British Columbia. In a research report published today, Dahlman states, "We recently traveled to British Columbia to see the new mill being constructed at the company's Endako mine and to evaluate the progress at the Mt. Milligan greenfield site. Both projects appear to be progressing along management's stated timeline." As a result of these new projects, Dahlman decided to leave its rating and price target unchanged. The report states, "Both projects appear to be on track to commence production, in line with management's forecast. The company recently issued $350 MM in debt to finance the increased capex estimate at Mt. Milligan, and management indicated that it does not intend to issue equity to finance the project. We reiterate our Buy rating on the shares and our $16 price target, based upon a sum-of-the-parts analysis." On Friday, Thompson Creek added 0.19% to its value to close the week at $10.62.