Dahlman Rose Reiterates a 'Buy' on Molycorp (MCP); A Mine-to-Magnet Solution
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Price: $0.36 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dahlman Rose reiterates a 'Buy' on Molycorp (NYSE: MCP) price target of $70.00.
Dahlman analyst says, "Molycorp has entered into a JV with Daido Steel and Mitsubishi Corporation to produce rare earth permanent magnets...The JV envisions building a 500 metric ton per annum magnet manufacturing facility in Japan. Operation of this facility is expected to commence in January 2013. We expect that the JV will look to quickly expand this facility upon its completion. We would not be surprised to see the facility be 3-4 times larger than its original footprint by 2015. Given the relatively small size of the initial facility, we believe that the company has adequate cash to be able to fully fund the construction of this project."
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 $30.65 yesterday.
Dahlman analyst says, "Molycorp has entered into a JV with Daido Steel and Mitsubishi Corporation to produce rare earth permanent magnets...The JV envisions building a 500 metric ton per annum magnet manufacturing facility in Japan. Operation of this facility is expected to commence in January 2013. We expect that the JV will look to quickly expand this facility upon its completion. We would not be surprised to see the facility be 3-4 times larger than its original footprint by 2015. Given the relatively small size of the initial facility, we believe that the company has adequate cash to be able to fully fund the construction of this project."
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 $30.65 yesterday.
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