Dahlman Rose Downgrades Molycorp (MCP) to Hold; Size Raises Questions

August 17, 2012 7:07 AM EDT Send to a Friend
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Price: $1.38 +0.73%

Rating Summary:
    5 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 45 | New: 4
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Dahlman Rose downgraded Molycorp (NYSE: MCP) from Buy to Hold.

Analyst, Anthony Young, said, "While we see a substantial amount of cash flow at the company, which should warrant a higher share price, the size of the offering raises questions whether the Mountain Pass project will be completed in our previously forecast timeframe."

"We now expect that the company will generate $0.80 and $1.20 in 2012 and 2013, respectively, versus our previous estimates of $1.70 and $3.50. We are estimating 3Q12 EPS of $0.25."

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 $11.16 yesterday.


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