- Molycorp (MCP -18.6%) shares plunge for a second straight day after Q1 results brought another substantial loss, marked by a deteriorating liquidity position and lower prices for rare earth metals, and little reason to suggest that operations would turn cash flow positive any time soon.
- Today, analysts at J.P. Morgan pile on by downgrading the stock to Underweight from Neutral, expecting another capital raise this year - logical timing, considering the rate MCP is burning through cash - made all the more urgent as the Mountain Pass ramp is happening more slowly than expected.
- Shares have lost a third of their market cap in two days.
Molycorp rocked again, -18% as J.P. Morgan piles on with downgrade
From other sites
at CNBC.com (Jul 4, 2014)
at CNBC.com (Jun 16, 2014)
at CNBC.com (Jun 4, 2014)
Video at CNBC.com (May 28, 2014)
at CNBC.com (Apr 25, 2014)
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