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Molycorp, Inc. (MCP)

- NYSE
  • Mar. 8, 2012, 6:19 PM
    Molycorp (MCP) agrees to acquire Canada's Neo Material Technologies (NEMFF.PK) in a ~C$1.3B cash and stock deal that will give MCP access to Neo's rare earth processing capabilities and patents. MCP +2.5% AH.
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  • Mar. 7, 2012, 10:55 AM
    Molycorp (MCP +1.2%) is moving up on chatter that Blackstone may invest $700 - 800M in the company, which could bring a 20 - 30% deal premium.
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  • Mar. 5, 2012, 9:27 AM
    Molycorp (MCP) +6.5% premarket after Morgan Stanley says a recovery may be in store for rare-earth prices after a YTD 25% drop. Yttrium prices rose in February, which could be followed by a rebound in magnetic rare earths, MS says, adding that a seasonal pickup in demand also will help stabilize prices. The firm reaffirmed its Overweight rating and $81 target price.
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  • Feb. 27, 2012, 8:38 AM
    Molycorp (MCP), already reeling from Friday's warning of higher production costs, -1.7% premarket after a report that China may almost double rare earth exports this year and meet quotas set by the government. This year's export quotas may remain virtually unchanged, but after falling far short last year, they may be met this year as overseas demand recovers.
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  • Feb. 26, 2012, 7:09 PM
    Word China could double rare earth exports this year is less than meets the eye. A slowing global economy had China exporting only about one half of its government-mandated quota in 2011. The quotas for 2012 aren't changing, it's just hope sharply lower prices for the minerals will lead to a bump in demand and those quotas being hit.
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  • Feb. 24, 2012, 3:57 PM
    Molycorp (MCP -7.8%) shares are punished after the company warns of higher production costs in the current quarter and says it can't provide a specific forecast. "One of the things we have learned in 2011 is not to predict what prices of rare earth will do because [2011] was a roller coaster," CEO&nbs... Smith says. J.P. Morgan cuts its price target to $27 from $39.
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  • 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)
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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.