Topic: How To Invest

Could I please have your opinion on Thompson Creek Metals? There is a lot of local enthusiasm in B.C., but the market does not seem to share the same optimism. Thanks.

Article Excerpt

Thompson Creek Metals Co. Inc., $7.43, symbol TCM on Toronto (Shares outstanding: 172.3 million; Market cap: $1.3 billion, www.thompsoncreekmetals.com), is a Canadian molybdenum producer with mining, milling, roasting and marketing operations in Canada and the U.S. The company’s operations include the Thompson Creek mine in Idaho, a roasting facility in Langeloth, Pennsylvania, and 75% of the Endako mine and roaster in B.C. Molybdenum is either mined directly or recovered as a by-product of copper mining. The metal helps strengthen alloys and high-temperature steels, and prevents them from rusting. In the three months ended June 30, 2011, Thompson Creek’s revenue jumped 28.6%, to $190.9 million from $148.4 million a year earlier (all figures except share price and market cap in U.S. dollars). That’s mainly because the company produced 30.4% more molybdenum in the latest quarter compared to a year earlier. As well, Molybdenum prices rose 2.6%, to $17.28 a pound from $16.84. Molybdenum has since dropped to around $14.70 a pound…