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Downgrade Alert for Thompson Creek Metals (TC)

By James Quinn

Thompson Creek Metals (NYSE:TC) was downgraded from Buy to Hold at Deutsche Bank today. The stock closed yesterday at $1.45 on volume of 2.0 million shares, above average daily volume of 1.4 million.

In the past 52 weeks, shares of Thompson Creek Metals have traded between a low of $1.38 and a high of $3.17 and closed yesterday at $1.44, which is 4% above that low price. The 200-day and 50-day moving averages have moved 0.81% lower and 2.54% lower over the past week, respectively.

Potential upside of 109.9% exists for Thompson Creek Metals, based on a current level of $1.44 and analysts' average consensus price target of $3.02. Thompson Creek Metals shares should first meet resistance at the 50-day moving average (MA) of $1.89 and find additional resistance at the 200-day MA of $2.50.

Thompson Creek Metals Company, Inc. mines and processes molybdenum. The Company operates mines, mills, and metallurgical roasting facilities in Canada and the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Thompson Creek Metals on September 19th, 2014 by issuing a Downtrend alert when the shares were trading at $2.50. Since that call, shares of Thompson Creek Metals have fallen 42.4%. 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

Ticker(s): TC