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News Breaks | | | | January 10, 2013 | | 11:43 EDT |  | AVL, SHZ, REE, MCP | Rare earth miners fall after Molycorp revenue, cash flow guidance
Shares of "rare earth" mining company Molycorp (MCP) are sharply lower after the company forecast lower than expected 2013 revenue and cash flow, citing the combination of the ramp-up schedule for its Mountain Pass project and the current rare earth pricing environment. The company also noted it will not complete Phase 2 construction at Mountain Pass until until market demand, product pricing, capital availability, and financial returns justify additional increases in production beyond Phase 1. J.P. Morgan added to the negative sentiment by lowering its price target on the shares to $5 from $8 while maintaining an Underweight rating. In late morning trade, Molycorp slid nearly 22% to $8.44. Other rare earth miners have seen their shares slip as well, with China Shen Zhou Mining (SHZ) down over 3%, Rare Element Resources (REE) falling nearly 4% and Avalon Rare Metals shedding about 6%. | |
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News For SHZ;MCP;REE;AVL From The Last 14 Days Check below for free stories on SHZ;MCP;REE;AVL the last two weeks. |
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| June 13, 2013 | | 08:08 EDT | | REE | Rare Element FY13 drilling program underway
 Subscribe for More Information | | | June 11, 2013 | | 17:00 EDT |  | REE | Rare Element files $50M mixed securities shelf
Subscribe for More Information | | | June 5, 2013 | | 07:34 EDT | | REE | Rare Element process technology success confirmed, pilot plant testing underway
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