Buy Thompson Creek Metals tMEDS (TCPRT)   7 comments

I couldn’t resist Thompson Creek Metals’ preferred shares/warrants (symbol TCPRT on Fidelity, or TC-PT on Yahoo) at $17.97, so I added it to my 401k as a long-term hold. At this point, anything below $18 is a steal.

If you recall, the warrants expire in May 2015, when they will convert to regular TC shares based on the following rules:

If TC is less than or equal to $4.64, the TCPRT holder receives 5.3879 shares.
If TC is between $4.64 and $5.45, the TCPRT holder receives an amount of shares equal to $25 divided by the weighted average price (i.e., at $5, 5 shares are distributed)
If TC trades above $5.45, the TCPRT holder receives 4.5855 shares.
The warrants can be converted prior to expiration for 4.5855 shares, regardless of price.

On top of this, the next ex-dividend date on TCPRT is October 29th. At the price I paid, I will get a 9.04% dividend yield until May 2015.

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Posted October 8, 2013 by edmcgon in Portfolio Moves

7 responses to “Buy Thompson Creek Metals tMEDS (TCPRT)

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  1. nah nah got it at 17.

  2. Oops, 17.08

  3. Looking very attractive at 17. I was fortunate and sold forty percent of my position on the 26th at 19.25.

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