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Molycorp, Inc. (MCPIQ)

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  • Feb. 1, 2012, 2:04 PM
    Shares of Molycorp (MCP -1.5%) retreat after JPMorgan issues cautionary comments on the deal to take on an investment from Molymet. Analyst Michael Gambardella questions the timing of the cash infusion without any obvious use for it by the rare earth miner.
  • Feb. 1, 2012, 8:34 AM
    Molycorp (MCP) announces that it will receive an investment of $390M from Chile's Molymet in exchange for 12.5M shares of its common stock. The share price on the deal reflects a 20-day weighted average and 10% premium. Shares +6.2% premarket.
  • Jan. 31, 2012, 8:57 AM
    Rare earth firms are up premarket after yesterday's WTO ruling that China must eradicate its export taxes and quotas for industrial minerals. While rare earth elements were not part of the ruling, the firms anticipate a similar appeal will be filed requesting the Chinese abolish their export quotas for rare earth elements. MCP +4.4%, AVL +5.3%, REE +5.2%.
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  • Jan. 25, 2012, 10:54 AM
    Rare earth miners, who had a difficult 2011 thanks to falling metal prices, are shooting higher today. Short-covering could be a factor: As of Dec. 30, Molycorp (MCP +6.6%), Avalon Rare Metals (AVL +3.8%), and Rare Element Resources (REE +6.5%) all had large chunks of their floats shorted.
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  • Jan. 3, 2012, 7:20 AM
    Molycorp (MCP) announces it has found a home for 78% of rare earth production from its Mountain Pass, CA mine coming online in 2012, with 58% pre-sold to customers, and another 20% allocated to its water treatment products. Shares +3.8% premarket. (PR)
  • Dec. 29, 2011, 12:03 PM
    Rare earths (REMX +0.8%) attempt a rebound from a two-day slide after China said it was cutting rare earth export quotas. Credit Suisse now says alterations in the way the figures were reported might’ve made changes seem severe, and forecasts China’s full-year 2012 rare earth exports to rise ~3%, in-line with previous expectations. RTI +2.2% and TC +0.9%, but MCP -2.3%.
  • Dec. 28, 2011, 10:06 AM
    Shares of Molycorp (MCP -7.5%) fall off as investors try to read between the lines of China's rare earth export quotas for 2012. JPMorgan takes a slightly negative tone in maintaining a Neutral rating on MCP, saying it sees "additional pressure" on rare earth prices off a small Y/Y increase in quota levels.
  • 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.
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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.