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There's much to cheer over at Thompson Creek Metals Co., now and when they used to call it Blue Pearl Mining, as the stock has gained nearly 4 per cent to $19.71 on the TSX Tuesday morning. The world's No. 5 molybdenum producer has increased the life of its Endako mine in British Columbia to 27 years from six years, by upping reserves and assuming long-term molybdenum prices at $10 (U.S.) a pound instead of $3.50. As a result, Versant Partners analyst Ian Parkinson raised his price target on the stock to $28.25 (Canadian) from $23, noting that while Thompson's valuation is heavily influenced by the metal's price, the "outlook for molybdenum continues to be positive." Desjardins Securities analyst John Redstone, who rates Thompson a "top pick," with a target price of $21.40, is modelling with a long-term molybdenum price of $18 a pound (U.S.).

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