| Thompson Creek (TC) Reports Loss in Q3, Revenues Top | |
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Thompson Creek Metals Company Inc. TC is engaged in the exploration and development of copper, gold and molybdenum in the U.S. It is one of the leading publicly traded, pure molybdenum producers in the world. The company owns the Thompson Creek open-pit molybdenum mine and mill in Idaho, a seventy five percent share of the Endako open-pit mine, mill and roasting facility in northern British Columbia, and a metallurgical roasting facility in Langeloth, PA.
In addition to the continued ramp-up of production at Mount Milligan, Thompson Creek remains focused on strengthening its balance sheet and reducing debt. Further, Thompson Creek expects its molybdenum business to generate positive cash flow of about $20−$21 million in 2015, including the accrued payments of roughly $7 million at the Endako mine. Let’s have a quick look at this mining company’s third-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Thompson Creek for the third quarter has increases over the past month. However, Thompson Creek has missed the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average negative surprise of 167.71%.
Earnings
Thompson Creek reported adjusted loss of 2 cents per share, missing the Zacks Consensus Estimate of earnings of a penny per share.
Revenues
Thompson Creek recorded total revenues of $141.7 million, down roughly 38% year over year. That topped the Zacks Consensus Estimate of $127 million.
Key Stats/Developments to Note
In the reported quarter, payable production at the company’s Mount Milligan Mine was 16.4 million pounds of copper and 53,791 ounces of gold, versus to payable production of 16.3 million pounds of copper and 60,366 ounces of gold in the same quarter a year ago.
Copper and gold sales volumes were 24.4 million pounds and 75,451 ounces while average realized sales prices for copper and gold were $2.09 per pound and $926 per ounce in the third quarter. Molybdenum sales volumes were 2.9 million pounds at an average realized price of $7.86 per pound.
Zacks Rank
Thompson Creek currently has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Thompson Creek’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Thompson Creek’s earnings report!
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Thompson Creek Metals Co Inc.
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PRODUCER |
CODE : TCM.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Thompson Creek is a gold and copper producing company based in Canada. Thompson Creek produces gold, copper, molybdenum in Canada, develops copper, gold and molybdenum in Canada, and holds various exploration projects in Canada. Its main assets in production are ENDAKO and THOMPSON CREEK MINE in Canada, its main assets in development are DAVIDSON (YORKE-HARDY) and MOUNT MILLIGAN in Canada and its main exploration properties are MAZE LAKE, BERG and HOWARDS PASS in Canada. Thompson Creek is listed in Canada and in Germany. Its market capitalisation is CA$ 149.3 millions as of today (US$ 111.4 millions, € 102.3 millions). Its stock quote reached its highest recent level on July 15, 2011 at CA$ 9.88, and its lowest recent point on January 22, 2016 at CA$ 0.16. Thompson Creek has 222 780 000 shares outstanding. |