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Molycorp, Inc. (MCP)

  • 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.
  • 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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  • Nov. 30, 2011, 10:30 AM
    Molycorp (MCP +7.2%) joins other rare earth miners in rallying (REMX +6.1%) after Morgan Stanley reiterates an Overweight and $90 PT. The firm thinks investors lack confidence in Molycorp's ability to execute, especially following its weak Q4 guidance, and thinks shares could rally as sales volumes are locked in. (magnet JV)
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  • Nov. 28, 2011, 11:53 AM
    Molycorp (MCP +10.5%) skies on the announcement of a joint venture with Daido Steel and Mitsubishi to produce and sell "next-generation neodymium-iron-boron permanent rare earth magnets." The production will make use of a new technology allowing greater magnet performance with less reliance on the scarce rare earth dysprosium. End users will be the automotive and home appliance industries. (PR)
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  • Nov. 18, 2011, 1:30 PM
    Molycorp (MCP) has been hurt by the recent crash in rare earth metal prices, but thinks the crash could boost its competitive standing, by making it harder for would-be competitors to obtain funding. The company adds it's "looking to acquire downstream companies that can process rare-earth oxides and produce magnets."
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  • Nov. 11, 2011, 10:51 AM
    Molycorp (MCP -11.4%) continues moving lower after missing Q3 estimates and lowering its 2011 production forecasts. JPMorgan (Neutral) is lowering its PT in response, arguing rare earth prices could fall some more in 2011 before new Chinese export controls arrive, and supply increases from Molycorp and Australia's Lynas could also hurt prices. REE is down 3.9% in sympathy. (transcript)
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  • Nov. 10, 2011, 7:45 PM
    Molycorp (MCP) Q3 misses across the board as earnings growth fell slightly below Street expectations. Net sales surged 39% Y/Y to a record level on strong volume, but the company cuts its FY11 production estimates due to recent concerns over pricing volatility. Shares -8.7% AH.
  • Nov. 10, 2011, 4:11 PM
    Molycorp (MCP): Q3 EPS of $0.67 misses by $0.01. Revenue of $138M misses by $24M. (PR)
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  • Nov. 10, 2011, 12:10 AM
    Notable earnings after Thursday's close: DAR, DIS, JWN, MCP, NVDA
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  • Nov. 4, 2011, 3:20 PM
    Molycorp (MCP +6.4%) marches higher after CEO Mark Smith tells CNBC that a proposed U.S. stockpile of rare earth materials at this time would actually create a little more tension in supply. Smith says MCP is "selling every kilogram" of material it is making, and that it would take "numerous years" of contraction to start to disrupt the supply/demand picture.
  • Oct. 24, 2011, 12:46 PM
    Molycorp (MCP +3.8%) purchases the remaining 10% stake it doesn't already own in Molycorp Silmet AS, giving it full ownership of the European rare-earth processing company.
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  • Oct. 20, 2011, 8:29 AM
    Molycorp (MCP) promises to spend an additional $114M to accelerate the completion of its CA rare earth facility to early April (from July). The company is responding to plans of rare earth consumers to move to China in order to be assured of having access to needed supplies. Shares +3.4% premarket.
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  • Oct. 19, 2011, 12:05 PM
    Morgan Stanley makes a bullish call on rare earth miner Molycorp (MCP -1.6%) ahead of tomorrow's investor day. The firm believes shares could rally on management's updates regarding Molycorp's Mountain Pass mine project. A high-flyer earlier in the year, Molycorp is now down over 50% from its May peak.
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  • Oct. 18, 2011, 8:40 AM
    In an effort to prop up falling prices, Baotou Steel - China's largest rare earths producer - will suspend smelting operations for one month. This follows September's attempt to juice prices by buying one RE mineral at above market prices. Shares of the company fell 5.8% in Shanghai.
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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.