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Molycorp, Inc. (MCP)

  • 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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  • Oct. 12, 2011, 9:05 AM
    Premarket gainers: LIZ +42%. AONE +15%. FRO +10%. ONXX +8%. TEL +7%. ALU +7%. BCS +6%. ING +5%. ASML +5%. DB +5%. MT +5%. RBS +5%. MPEL +5%. GNW +5%. CS +4%. DRYS +4%. YRCW +3%. SIRI +3%. S +3%. BHP +3%. NOK +3%. FCX +3%. UBS +3%. QGEN +3%. AU +3%. MCP +3%. RIO +3%.
    Losers: CHKM -5%. PCX -5%. PWER -4%. AT -4%. AA -4%. HST -3%. FSLR -3%.
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  • Oct. 4, 2011, 9:15 AM
    Premarket gainers: AMR +13%. MCP +6%. STP +5%. SPWRB +4%. CTIC +4%. YHOO +3%.
    Losers: EK -7%. SD -5%. LYG -5%. MS -4%. FRO -4%. NOK -4%. ALU -4%. VE -3%. SSIRI -3%. BCS -3%. DB -3%. ARMH -3%. JDSU -3%. SDRL -3%. CHK -3%. AKS -3%. AMD -3%. MU -3%.
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  • Oct. 4, 2011, 8:10 AM
    Molycorp (MCP) gains 5.9% premarket as the NYT reports the company will today announce the discovery of significant quantities of "heavy" rare earth metals at a California ore deposit. However, the report cautions Molycorp "still needs to do extensive test drilling to determine the quality and quantity of the rare earth ore."
  • Sep. 29, 2011, 8:23 AM
    The prospect for rare earth stocks - already reeling from a sharp decline in prices for minerals - looks dimmer after companies like General Electric (GE) and Toyota (TM) scale back their usage of elements like cerium and lanthanum and use cheaper alternatives. "If you think you can keep raising the prices for those materials and still keep your customers, you’re crazy,” adds one metal analyst.
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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.