Dahlman Rose Maintains a 'Buy' on Molycorp (MCP); Ahead of Schedule, but Rare Earth Prices Continue Sliding
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Price: $0.36 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Dahlman Rose maintains a 'Buy' on Molycorp (NYSE: MCP) price target of $50.00.
Analyst, Anthony Young, said, "Molycorp has begun ramping production at its Mountain Pass facility, earlier than management's previous expectation of April 1. While rare earth prices continue their descent over the near term, we remain optimistic on the long-term outlook for the industry."
"...Outside of Molycorp and Lynas, we do not anticipate that any other producer will commence production before 2015, keeping supply relatively tight. Further, the recent softness in prices should keep demand relatively robust and alleviate substitution concerns."
For an analyst ratings summary and ratings history on Molycorp click here. For more ratings news on Molycorp click here.
Shares of Molycorp closed at $28.42 yesterday.
Analyst, Anthony Young, said, "Molycorp has begun ramping production at its Mountain Pass facility, earlier than management's previous expectation of April 1. While rare earth prices continue their descent over the near term, we remain optimistic on the long-term outlook for the industry."
"...Outside of Molycorp and Lynas, we do not anticipate that any other producer will commence production before 2015, keeping supply relatively tight. Further, the recent softness in prices should keep demand relatively robust and alleviate substitution concerns."
For an analyst ratings summary and ratings history on Molycorp click here. For more ratings news on Molycorp click here.
Shares of Molycorp closed at $28.42 yesterday.
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