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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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April 15, 2014
15:18 EDTMCP, REEChina seen exceeding forecast for rare earth stockpiling, SMM says
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April 4, 2014
16:42 EDTMCPMolycorp files to sell 23.82M common shares for holders

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