Base metal stocks have been hammered on China's weakening outlook, and Dundee Securities thinks...

|By:, SA News Editor

Base metal stocks have been hammered on China's weakening outlook, and Dundee Securities thinks there's worse to come, as another 15% drop in prices would cause "significant" distress for many miners. The firm downgraded 17 of them today, including Thompson Creek (TC) and HudBay (HBM), and upgraded only Teck Resources (TCK), to Buy thanks to its strong balance sheet as proof it can weather the storm.