4. Thompson Creek Metals (TC) has two operating molybdenum mines, a copper-gold mine under construction, a stand-alone metals roasting facility, and a range of metal properties under various stages of exploration. The company's operations are all located in the U.S. and Canada.
For the first quarter ended March 2011, the company reported non-GAAP adjusted income (excluding non-cash unrealized gain on warrants) of $62.9 million, or 36 cents per share, compared to $25.6 million, or 17 cents per share, in the year-ago quarter. Revenue stood at $206.7 million, up 62% year-over-year from $127.8 million as molybdenum production hit a new quarterly record of 10.3 million pounds, up 25% from 8.3 million pounds in the first quarter of 2010.
On the balance sheet front, cash and cash equivalents reduced 4.1% to $303 million from $316 million at the end of Dec. 2010. Total debt for the quarter was $20.5 million, compared to $22 million as of Dec. 2010. Lastly, cash flow from operations was $76.6 million, up 200% year-over-year from $25.6 million.Going forward, total molybdenum production is expected at 28 to 32 million pounds (from the earlier guidance of 30 to 33 million pounds) during 2011. Production from the Thompson Creek mine is estimated at 22 to 24 million pounds and from the Endako mine at 6 to 8 million pounds. Of the 15 analysts covering the stock, 80% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. On average, analysts foresee 68% upside to $15.74 from current levels.
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