Molycorp (MCP) Gets a Lift on Positive Analyst Comments
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Price: $0.36 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Molycorp (NYSE: MCP) is seeing pre-open interest Monday following positive comments at Morgan Stanley. Shares last traded at $25.68, up 4 percent from Friday's close.
The firm said with rare earth prices down 25% year-to-date, a recovery may be in store. They said a recovery in heavy rare earch prices may be underway as yttrium rose in February and this could be followed by a rebound in magnetic rare earth. They also said a seasonal pickup in demand will help stabilize rare earth prices.
They reiterated their Overweight rating and $81 price target on the stock.
The firm said with rare earth prices down 25% year-to-date, a recovery may be in store. They said a recovery in heavy rare earch prices may be underway as yttrium rose in February and this could be followed by a rebound in magnetic rare earth. They also said a seasonal pickup in demand will help stabilize rare earth prices.
They reiterated their Overweight rating and $81 price target on the stock.
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