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Molycorp, Inc. (MCPIQ)

- OTCPK - Current
  • Apr. 9, 2012, 9:05 AM
    Molycorp (MCP) +1.5% premarket after announcing its proven and probable reserves of rare-earth minerals at its flagship Mountain Pass, Calif., facility have increased by 36%. MCP's reserves are now at 18.4M short tons of rare-earth ore at an ore grade of 7.98% and a cut-off grade of 5%, up from a 2010 estimate of 13.6M short tons.
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  • Apr. 2, 2012, 9:08 AM
    Premarket gainers: TWER +20%. AVP +19%. RNDY +8%. MCP +4%. ESRX +4%. VVUS +3%.
    Losers: KERX -60%. AVII -32%. GRPN -10%. NBG -8%. GFA -6%. SINA -5%. IRE -4%. GOLD -4%. THLD -3%. MT -2%. BBVA -3%.
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  • Apr. 2, 2012, 8:25 AM
    Molycorp (MCP) pops on a Bloomberg report seeing the company as a takeover play, and suggesting BHP and Rio Tinto (RIO) as possible buyers. One hedge fund manager (long the stock?) suggests the firm could fetch $60/share against the Friday close of $33.83. Shares +3% premarket.
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  • Mar. 29, 2012, 1:28 PM
    Molycorp (MCP +4.7%) adds to Tuesday's big gains after Morgan Stanley reports Chinese rare earth prices jumped 10% on average yesterday, per industry site Metal Pages. The firm adds it continues to believe rare earth prices have fallen to a level that will stoke demand, and predicts a seasonal pickup will will help stabilize prices. REE +2.3%. (previously)
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  • Mar. 27, 2012, 9:56 AM
    Molycorp (MCP +7.3%) leads rare earth producers sharply higher, perhaps fueled by a 363% Y/Y profit gain reported overnight by Baotou Steel Rare Earth (which closed 8.4% higher in Shanghai). Still, the company says retreating rare earth prices from last year's H2 show no signs of rebounding.
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  • Mar. 21, 2012, 12:59 PM
    The construction of a large rare earth metal refinery in Malaysia may be delayed further, as controversy continues to surround the project. Opposition parties in Malaysia are refusing to cooperate with a probe into the safety of the proposed plant, which is owned by Lynas of Australia and is one of two giant projects designed to break China’s near-monopoly on the production of rare earths.
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  • Mar. 13, 2012, 2:49 PM
    Molycorp (MCP +3.8%) shares are moving up on heavy volume after Pres. Obama, the EU and Japan ask the WTO to help increase China's exports of rare earths. But Dahlman Rose notes that given the massive drop in rare earth prices YTD, a negative WTO ruling may have no meaningful impact on prices. AVL +3.6%, REE +10.7%.
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  • Mar. 9, 2012, 12:19 PM
    Molycorp's (MCP +13.6%) acquisition of Neo Material is also providing a big lift to shares of fellow rare earth miners Rare Element Resources (REE +15.7%) and Tasman Metals (TAS +18.7%), as investors bet the deal will spur further consolidation. Avalon Rare Metals (AVL +5.1%) is up more modestly.
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  • Mar. 9, 2012, 11:07 AM
    Stifel Nicolaus views Molycorp's (MCP +11.6%) acquisition of Neo Material Technologies (NEMFF.PK) as a positive vertical integration move for the rare metal producer. The firm expects the deal to be accretive in 2012 but it maintains a Hold rating.
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  • 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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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.