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Stock Market & Financial Investment News

News Breaks
January 10, 2013
11:43 EDTSHZ, MCP, REE, AVLRare 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%.
News For SHZ;MCP;REE;AVL From The Last 14 Days
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August 11, 2014
10:19 EDTSHZOn The Fly: Analyst Downgrade Summary
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07:42 EDTMCPMolycorp shares have significant downside risk, says JPMorgan
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August 8, 2014
11:37 EDTMCPStocks with call strike movement; MCP GTAT
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August 7, 2014
13:34 EDTMCPMolycorp secures $400M in financing arrangement with Oaktree Capital
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09:08 EDTMCPOn The Fly: Pre-market Movers
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07:02 EDTREERare Element reports Q2 EPS (6c) vs. (12c) last year
For accounting purposes, the Company is classified as an exploration stage company and, as such, does not have production-related revenues at this time. The key drivers behind the lower year-over-year expenses were primarily a decrease in exploration and evaluation expenses of $0.9M, the result of a shift to technical and economic evaluation with a related reduction in exploration expenses offset slightly by an increase in expenses for metallurgical and engineering test work, lower corporate administrative cost of $0.5M, primarily due to lower stock-based compensation expense, and a favorable variance in currency translation of $0.9M.

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