Molycorp rating cut at Moody's; -5.8% AH

"The downgrade reflects continued weakness in rare earths pricing environment, ongoing negative free cash flows, weak liquidity and high leverage," says Moody's cutting Molycorp's (MCP) CFR rating to Caa2 from Caa1. "The [Mountain Pass] project's cost overruns left the company with absolute debt levels that may be unsustainable in a current price environment."

Shares -5.8% AH

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Comments (4)
  • hoonibvird
    , contributor
    Comments (164) | Send Message
    So what is news here????? Another Johnny come lately downgrade. At $2+ it trades like a call option. And as for the insider selling, I can only imagine that the low price may have precipitated a margin call!
    19 Jun 2014, 05:23 PM Reply Like
  • Grand Nagus Kelly
    , contributor
    Comments (1838) | Send Message
    Or the company and it's stock are just jive turkeys.
    19 Jun 2014, 05:55 PM Reply Like
  • New Low Observer
    , contributor
    Comments (2542) | Send Message
    And it ain't nice being jive turkey so close to thanksgiving.
    19 Jun 2014, 07:00 PM Reply Like
  • Kastanes
    , contributor
    Comments (1288) | Send Message
    I have a few hundred shares that I bought @ $13. No point in selling, should recover at some point.
    19 Jun 2014, 07:48 PM Reply Like
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