| Thompson Creek Repurchases $34M of Senior Secured Notes - Analyst Blog | |
| | |
|
Thompson Creek Metals Company Inc. TC said that it repurchased and retired, during the second quarter of 2015, $34.2 million principal amount of its 9.75% senior secured notes due Dec 1, 2017 at an average purchase price of 1.07% of the notes' par value.
Total cash utilized was about $37.8 million, which included the payment of accrued interest to the repurchase date of $1.2 million. The company will save interest of about $0.8 million from this repurchase to the Dec 2015 call date. This represents a net average purchase price of 1.024% of par compared to the call price of 1.04875% of par, with future interest savings to the Dec 2017 maturity date of $8.2 million.
Thompson Creek aims to reduce its debt over time to roughly three times earnings before income taxes, depreciation and amortization (EBITDA) for a 12-month period. Since the completion of the Mt Milligan Mine to Jun 30, 2015, Thompson Creek has repaid and retired 12% of its debt balance, or about $121 million, including the net repayments of its capital lease obligations.
These bond repurchases will enable the company to take advantage of opportunities in the financial markets to proactively reinforce its balance sheet.
Thompson Creek currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the mining space include Sandstorm Gold Ltd. SAND, Vista Gold Corp. VGZ and Newmont Mining Corp. NEM. All of these stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report THOMPSON CREEK (TC): Free Stock Analysis Report NEWMONT MINING (NEM): Free Stock Analysis Report SANDSTORM GOLD (SAND): Free Stock Analysis Report VISTA GOLD CORP (VGZ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
|
|
|
Thompson Creek Metals Co Inc.
|
|
PRODUCTEUR |
CODE : TCM.TO |
|
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Thompson Creek est une société de production minière d'or et de cuivre basée au Canada. Thompson Creek est productrice d'or, de cuivre, de molybdène au Canada, en développement de projets de cuivre, de molybdène et d'or au Canada, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont ENDAKO et THOMPSON CREEK MINE au Canada, ses principaux projets en développement sont DAVIDSON (YORKE-HARDY) et MOUNT MILLIGAN au Canada et ses principaux projets en exploration sont MAZE LAKE, BERG et HOWARDS PASS au Canada. Thompson Creek est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 149,3 millions CA$ (111,4 millions US$, 102,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 15 juillet 2011 à 9,88 CA$, et son plus bas niveau récent le 22 janvier 2016 à 0,16 CA$. Thompson Creek possède 222 780 000 actions en circulation. |