Downgrade Alert for Thompson Creek Metals (TC)
Thompson Creek Metals (NYSE:TC) was downgraded from Hold to Sell at Deutsche Bank today. The stock closed yesterday at $0.85 on volume of 1.7 million shares, above average daily volume of 1.0 million.
In the past 52 weeks, Thompson Creek Metals share prices have been bracketed by a low of $0.79 and a high of $3.09 and closed yesterday at $0.85, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.6% while the 200-day MA has slid 1.9%.
Thompson Creek Metals Company, Inc. mines and processes molybdenum. The Company operates mines, mills, and metallurgical roasting facilities in Canada and the United States.
Potential upside of 89.1% exists for Thompson Creek Metals, based on a current level of $0.85 and analysts' average consensus price target of $1.61. Thompson Creek Metals shares should first meet resistance at the 50-day moving average (MA) of $1.08 and find additional resistance at the 200-day MA of $1.51.
SmarTrend recommended that its subscribers protect gains by selling shares of Thompson Creek Metals on March 6th, 2015 by issuing a Downtrend alert when the shares were trading at $1.28. Since that call, shares of Thompson Creek Metals have fallen 33.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades thompson creek metals