Downgrade Alert for Thompson Creek Metals (TC)
Thompson Creek Metals (NYSE:TC) was downgraded from Hold to Sell at Canaccord Genuity today. The stock closed yesterday at $3.10 on volume of 1.7 million shares, above average daily volume of 1.6 million.
Thompson Creek Metals (NYSE:TC) has potential upside of 6.5% based on a current price of $3.81 and analysts' consensus price target of $4.06. The stock should discover initial support at its 200-day moving average (MA) of $3.18 and subsequent support at its 50-day MA of $3.01.
In the past 52 weeks, Thompson Creek Metals share prices have been bracketed by a low of $2.25 and a high of $5.32 and closed yesterday at $3.81, 69% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.3%.
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 is monitoring the recent change of momentum in Thompson Creek Metals. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Thompson Creek Metals in search of a potential trend change.
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