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Molycorp, Inc. (MCP)

- NYSE
  • May. 9, 2013, 4:48 PM
    More on Molycorp's (MCPQ1 results: Says production ramp-up at Mountain Pass remains on course, and increasing production is allowing production for end-use customers and providing greater feedstock to downstream, value-added processing facilities. Sees signs of a return to more normal demand levels as the year progresses. Continues to expect H1 results weaker than H2 2012. Shares +8.9% AH.
    | 1 Comment
  • Apr. 2, 2013, 11:42 AM
    A day after shares sank to an all-time low, DA Davidson initiates coverage of Molycorp (MCP +2.9%) with a Buy rating and $7 price target. The firm thinks implementation of some unique recycling technologies, the use of lower energy cost processes, and the resource advantage from Mountain Pass should help MCP become the low-cost supplier in the rare-earth industry.
    | 1 Comment
  • Mar. 15, 2013, 11:58 AM
    Molycorp (MCP +4%) is maintained at Neutral by Goldman Sachs after reporting Q4 results, as the firm notes positives at MCP despite supply and demand challenges in rare earths this year. MCP's targeted cash production costs of $6-$7/kg is a sign of operational confidence in the near-to-medium term cost roadmap despite recent liquidity and management related turmoil, Goldman says.
    | 3 Comments
  • Mar. 14, 2013, 4:35 PM
    More on Molycorp's (MCP) Q4 results: Revenues rose 1.1% Y/Y to $134M vs. $161M analyst consensus. Sees H1 financial performance slightly weaker than H2 2012, but expects global supply and demand for rare earth oxides will approach a healthier balance during 2013, and pricing within many key applications of rare earths will be beneficial to both customers and suppliers. MCP +1.8% AH.
    | 3 Comments
  • Mar. 14, 2013, 4:18 PM
    Molycorp (MCP): Q4 EPS of -$0.45 misses by $0.15. Shares +1.8% AH. (PR)
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  • Feb. 28, 2013, 9:10 AM
    Premarket gainers: MNOV +11%. BDBD +10%. RTK +8%. ZGNX +7%. NEO +7%. NBG +6%.
    Losers: GRPN -29%. BSFT -23%. JCP -16%. PKT -15%. MTG -14%. MCP -8%. CWH -7%
    | 1 Comment
  • Feb. 28, 2013, 7:20 AM
    Molycorp (MCPsheds 6.6% premarket after announcing about a 2-week delay in the filing of its 10-K and its Q4 earnings call. The delay is necessary to determine the amount of a non-cash goodwill charge, which the company "estimates will be substantial." (PR)
    | 7 Comments
  • Feb. 7, 2013, 11:35 AM
    Molycorp (MCP +1.9%) moves higher after noted bear Michael Gambardella of J.P. Morgan raises his rating from Underweight to Neutral following MCP's recent capital raise. But it's not exactly a bullish note: "While risks remain in the form of even lower rare earth prices and completing Mt. Pass on-time and on-budget and significantly reducing its operating costs... the greatest risk... has now passed."
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  • Jan. 25, 2013, 5:56 PM
    After-hours top gainers, as of 5:15 p.m.: KRO +5%. AUMN +5%. LRN +3%. PHH +3%. RIG +2%.
    After-hours top losers: TEX -7%. MCP -6%. OSK -6%. LVNTA -5%. SIVB -4%.
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  • Jan. 23, 2013, 3:59 PM
    Molycorp's (MCP -11%) ugly day nears a merciful end, capped by a Dahlman Rose downgrade based on the unanticipated additional scaling up of capital requirements, also noting an additional $130M in capex for 2013. Assuming the proposed $300M capital raise is finalized, 25M new shares are issued and the revised capex, the firm sees a negative ~$1.00/share impact to NAV.
    | 1 Comment
  • Jan. 23, 2013, 11:52 AM
    Molycorp (MCP -7.4%) plunges after warning of substantially lower than expected production in Q4 2012 and H1 2013 while foreseeing a $250M cash shortfall even with its proposed $300M capital raise. But hope springs eternal for some, as Oracle's Laurence Balter remains bullish: "They are raising less capital than I thought... Investors need to be patient."
    | 6 Comments
  • Jan. 23, 2013, 9:10 AM
    Premarket gainers: MAPP +59%. TELK +23%. CREE +14%. ISRG +9%. RFMD +6%. ACAD +6%. GOOG +5%.
    Losers: COH -17%. MCP -14%. NMRX -14%. STSI -11%. BNNY -8%. GD -5%
    | 1 Comment
  • Jan. 23, 2013, 7:22 AM
    Molycorp (MCP) -4.3% premarket as the company sets a capital raise, offering a secondary of $200M in common stock and $100M of convertible notes. Both figures could rise another 15% if underwriters exercise their options to buy. (PR)
    | 1 Comment
  • Jan. 14, 2013, 9:54 AM
    Early strength in Molycorp (MCP +2.2%) is attributed to a takeover story making the rounds highlighting the shares' recent fall below NAV which is turning the high-potential firm into a prime takeover target. Even after rebounding from a record low in November, MCP still trades at a 19% discount to their book value.
    | 1 Comment
  • Jan. 10, 2013, 12:45 PM
    Midday top 10 gainers: UCBA +48%. NOK +19%. VOXX +17%. NEWL +16%. FSCI +16%. MY +15%. HAST +15%. HGG +13%. SVU +12%. PTIE +11%.
    Midday top 10 Losers: MCP -21%. GIG -21%. DRWI -20%. UNXL -14%. PRXI -8%. QRM -8%. ASNA -8%. THLD -8%. SSRI -8%. PRGN -7%.
    | 1 Comment
  • Jan. 10, 2013, 9:46 AM
    Molycorp (MCP -19.3%) plummets at the open after projecting lower-than-expected revenue and cash flow this year due to weakening rare earth prices. J.P. Morgan cuts its price target on shares to $5 from $8: "We continue to believe MCP will likely have to seek additional capital beyond just a revolver and/or equipment leaseback." AVL -3.9%, REE -3.1%.
    | 2 Comments
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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.