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Molycorp, Inc. (MCP)

- NYSE
  • Feb. 23, 2012, 4:57 PM
    More on Molycorp's FQ4: Gross margin of 52.9% fell 680 bps Q/Q, mostly due to higher raw material and chemical costs. The company is reiterating guidance for 2012 production of 8K-10K metric tons of rare-earth oxide (REO) equivalents. It sees its per-kilogram production costs increasing slightly in 2012 due to Project Phoenix start-up costs, but normalizing in 2013. MCP -0.6% AH, reversing earlier gains. (PR)
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  • Feb. 23, 2012, 4:24 PM
    Molycorp (MCP): Q4 EPS of $0.41 beats by $0.01. Revenue of $132.9M (+512% Y/Y) misses by $3M. Shares +5.7% AH. (PR)
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  • Feb. 23, 2012, 12:10 AM
    Notable earnings after Thursday's close: ADSK, AGO, AIG, BIO, CBI, CRM, CROX, CUBE, DECK, FSLR, GPS, GTE, HLS, IAG, INT, LNG, LONG, MCP, MELI, MGA, MHK, MNST, MRVL, NDSN, PSA, SBAC, SD, SPN, TIVO, WBMD, WR, XCO
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  • Feb. 22, 2012, 5:35 PM
    Notable earnings after Thursday 's close: ADSK, AGO, AIG, BIO, CBI, CRM, CROX, CUBE, DECK, FSLR, GPS, GTE, HLS, IAG, INT, LNG, LONG, MCP, MELI, MGA, MHK, MNST, MRVL, NDSN, PSA, SBAC, SD, SPN, TIVO, WBMD, WR, XCO
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  • Feb. 21, 2012, 12:30 PM
    Molycorp (MCP +1.4%) moves up after saying it's launching the start-up of Project Phoenix, a new rare-earth manufacturing operation at its flagship Mountain Pass California facility this week, ahead of its April 1st deadline.
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  • Feb. 1, 2012, 2:04 PM
    Shares of Molycorp (MCP -1.5%) retreat after JPMorgan issues cautionary comments on the deal to take on an investment from Molymet. Analyst Michael Gambardella questions the timing of the cash infusion without any obvious use for it by the rare earth miner.
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  • Feb. 1, 2012, 8:34 AM
    Molycorp (MCP) announces that it will receive an investment of $390M from Chile's Molymet in exchange for 12.5M shares of its common stock. The share price on the deal reflects a 20-day weighted average and 10% premium. Shares +6.2% premarket.
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  • Jan. 31, 2012, 8:57 AM
    Rare earth firms are up premarket after yesterday's WTO ruling that China must eradicate its export taxes and quotas for industrial minerals. While rare earth elements were not part of the ruling, the firms anticipate a similar appeal will be filed requesting the Chinese abolish their export quotas for rare earth elements. MCP +4.4%, AVL +5.3%, REE +5.2%.
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  • Jan. 25, 2012, 10:54 AM
    Rare earth miners, who had a difficult 2011 thanks to falling metal prices, are shooting higher today. Short-covering could be a factor: As of Dec. 30, Molycorp (MCP +6.6%), Avalon Rare Metals (AVL +3.8%), and Rare Element Resources (REE +6.5%) all had large chunks of their floats shorted.
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  • Jan. 3, 2012, 7:20 AM
    Molycorp (MCP) announces it has found a home for 78% of rare earth production from its Mountain Pass, CA mine coming online in 2012, with 58% pre-sold to customers, and another 20% allocated to its water treatment products. Shares +3.8% premarket. (PR)
    | 4 Comments
  • Dec. 29, 2011, 12:03 PM
    Rare earths (REMX +0.8%) attempt a rebound from a two-day slide after China said it was cutting rare earth export quotas. Credit Suisse now says alterations in the way the figures were reported might’ve made changes seem severe, and forecasts China’s full-year 2012 rare earth exports to rise ~3%, in-line with previous expectations. RTI +2.2% and TC +0.9%, but MCP -2.3%.
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  • Dec. 28, 2011, 10:06 AM
    Shares of Molycorp (MCP -7.5%) fall off as investors try to read between the lines of China's rare earth export quotas for 2012. JPMorgan takes a slightly negative tone in maintaining a Neutral rating on MCP, saying it sees "additional pressure" on rare earth prices off a small Y/Y increase in quota levels.
    | 3 Comments
  • Dec. 27, 2011, 3:40 PM
    Rare earth miners are selling off following the Chinese government's establishing of 2012 export quotas. MCP -3.4%. REE -4.9%. TC -3.3%. JPMorgan thinks the quotas "could put additional pressure on rare earth prices," after taking into account expected production increases from Molycorp and Lynas.
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  • Dec. 27, 2011, 4:50 AM
    China sets the first tranche of rare earth export quotas at 10,546 tons for 2012, and says overall export quotas for 2012 will be unchanged from 2011 to "guarantee" international demand and keep supplies "basically stable." The 2011 quota was 30,184 tons, but less than half of that was actually exported in the first 11 months.
    | 7 Comments
  • Dec. 19, 2011, 12:43 PM
    Molycorp (MCP +3%) gains on reports that the Chinese government has barred state-owned Baotou Steel - the largest producer of minerals in the world - from exporting its products.
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  • Dec. 16, 2011, 8:28 AM
    Molycorp (MCP) gains 3.5% after the company announces it has been granted authorization by the U.S. government to "commence exploratory drilling" at a rare earth deposit near its Mountain Pass, CA manufacturing facility. The company says it expects results from its drilling efforts in Q2 2012. (previously)
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Company Description
Molycorp Inc manufactures custom engineered rare earth and rare metal products. The Company's reportable segments include resources chemicals and oxides magnetic materials and alloys and rare metals.