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Molycorp, Inc. (MCPIQ)

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  • Nov. 12, 2012, 10:18 AM
    After slumping 13% Friday on disclosure of a SEC investigation, Molycorp (MCP -9%) continues lower today. Dahlman Rose also notes MCP reported a $150M increase in capital expenditures; the firm sees 2013 as a transitional year, where cash management and project execution will be crucial in unlocking the value of Mountain Pass without the need for additional capital.
    | 13 Comments
  • Nov. 9, 2012, 11:38 AM
    Molycorp (MCP -4.4%) resumes trading after a brief halt, as an SEC filing discloses an SEC investigation regarding the accuracy of disclosures of certain sales of stock by officers, directors and private equity firms, as well as certain corporate acquisitions during 2011.
    | 7 Comments
  • Nov. 8, 2012, 6:22 PM
    Molycorp (MCP) CEO Mark Smith says in the Q3 report that expansion of the Mountain Pass rare earth project in California is on track to be completed by the year-end, but warns the cost likely will exceed the $895M budgeted. Mountain Pass is expected to produce more than 19K metric tons/year of rare earths at its Phase 1 capacity, with the potential to expand output up to 40K/year.
    | 2 Comments
  • Nov. 8, 2012, 6:02 PM
    Molycorp (MCP): Q3 EPS of -$0.05 beats by $0.08. Revenue of $205M (+48.9% Y/Y) misses by $42M. Gross profit fell Y/Y as a result of significantly lower pricing and increased production costs, offset by increased volumes. Shares +6.5% AH. (PR)
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  • Oct. 26, 2012, 7:27 AM
    Shanghai (-1.7%) suffers its biggest decline in weeks, hit by a string of poor earnings reports. Baotou Rare-Earth -7% as it cuts output amidst declines in rare-earth prices. (MCP -1.2% premarket). Maanshan Steel -4.4% after posting a loss that doubled consensus estimates. The country's largest maker of flat panel TVs - Hisense Electric - down 10%, hit by the mix of higher panel costs and lower finished product prices.
    | 1 Comment
  • Oct. 24, 2012, 9:42 AM
    Molycorp (MCP +3.8%) is upgraded to Buy from Hold at Dahlman Rose, which sees long-term value through its planned 400% production ramp-up at the high-grade Mountain Pass and its ownership of key downstream facilities. Rare Element (REE +1.2%) also rises even as the firm cuts shares to Hold on valuation, as China's Baotou Steel suspends production for a month to try to stem falling rare earth prices.
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  • Oct. 19, 2012, 5:19 PM
    China's grip on the rare earth market may be slipping, Brad Plumer writes. Two years after China's move to restrict its export quota by 40% - making it economical for other countries to start boosting their own production - the market has adjusted. As a result, rare earth elements simply aren’t as rare as they once were.
    | 5 Comments
  • Sep. 19, 2012, 10:41 AM
    As the Arctic melts, the scramble is on for oil, gas and rare earth minerals as they become newly accessible along with increasingly navigable polar shipping shortcuts. So it's no surprise that China is becoming a far more aggressive player in the area, provoking alarm among Western powers. Rare earth names are slightly higher: MCP +1%, AVL +1.7%, REE +0.8%.
    | 14 Comments
  • Sep. 14, 2012, 9:49 AM
    Ford (F) says it’s cutting consumption of rare earths used in its hybrid and electric cars by 500K lbs./year and will save hundreds of dollars per car in the process. But shares of rare-earth leader Molycorp (MCP +5.6%) shoot higher anyway, adding to gains a day after China announced a 40% cut in the number of permits to mine rare earths. REE +5.7%, AVL +4.5%.
    | 8 Comments
  • Sep. 13, 2012, 11:38 AM
    Molycorp (MCP +4.8%) shares rip higher on a report that China is reducing rare earth mining licenses by 40%. The number of licenses had been 113, according to Securities Journal. The news is seen as positive for companies holding existing licenses as future competition may now be limited. Also on the move: REE +3.4%, AVL +2.6%.
    | 5 Comments
  • Aug. 31, 2012, 12:04 PM
    Molycorp (MCP +4.5%) has enjoyed substantial recent insider purchases, according to Insider Monkey. Director Ross Bhappu’s Resource Capital bought 2.5M shares at an average $10/share, CEO Mark Smith directly purchased 50K shares, and the company’s CFO and another board member also added shares.
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  • Aug. 29, 2012, 9:41 AM
    Molycorp (MCP +4.3%) continues its recent rise after shares are upgraded to Buy from Hold at Gabelli, which cites the recent financing to provide liquidity through H1 2013 and hitting milestones to get Phase 1 production online on time and on budget. Although rare earth prices remain weak, the firm says much of the risk already is reflected in the share price.
    | 4 Comments
  • Aug. 29, 2012, 9:10 AM
    Premarket gainers: JOSB +14%. TEAR +8%. MCP +6%. TFM +5%.
    Losers: ARQL -26%. WCRX -22%. DY -17%. JASO -9%. FRO -8%.
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  • Aug. 28, 2012, 3:44 PM
    Molycorp (MCP +13%) is among today's top gainers on news that its California facility had begun to produce heavy rare-earth concentrate from freshly mined ore and is on track to achieve full Phase 1 production rates in Q4. But Paul Ausick reminds that by next year, the supply of rare earths will more than double the amount now on the market, and some companies are developing substitutes.
    | 1 Comment
  • Aug. 28, 2012, 9:10 AM
    Premarket gainers: SBX +33%. MOV +15%. CYBX +9%. PVH +5%. MCP +5%.
    Losers: CPRX -22%.
    | Comment!
  • Aug. 27, 2012, 4:27 PM
    Molycorp (MCP) +5.3% AH after announcing the start-up of operations at its Project Phoenix facilities at Mountain Pass, Calif., which will produce heavy rare earth concentrate to be processed into high-purity, custom-engineered heavy rare earth products. An on-site combined heat and power plant will begin feeding power and steam this week to the facilities.
    | 11 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.