As owner of the largest US based deposit of rare earth metals, Molycorp (MCP) has benefited big from China’s control of these important metals as prices skyrocket due to limited supply and increasing demand. CEO of Molycorp Mark Smith doesn’t see the recent surge as a bubble due to China’s restriction on exporting according to Bloomberg. In July China announced plans to reduce its 2nd half export quota of rare earth metals by 72% … Read the rest
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Molycorp (MCP) Launches Rare Earth Based Water Purification Technology
Molycorp (MCP) is known as the emerging US based rare earth metals miner and the stock has soared in anticipation of successful mining of these important metals in the coming years. However, the company has some other revenue streams in the works. The company on Friday announced that its rare earth metals based water purification technology was available for commercial use.
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Mark Smith, Chief Executive … Read the rest
Morning Analyst Rating Roundup: MCP, FSLR, TLVT
A few analyst ratings notes to tell you about this morning…
JP Morgan initiates Molycorp (MCP) with Overweight rating and $26.50 price target based on China’s rationing of supplies and raising of rare earth prices. Molycorp aims to be the biggest miner of rare earth metals in the US which are necessary for everything from electric cars to television screens. It’s been said that the Toyota Prius uses more rare earth metals than any other … Read the rest