With good comes bad and this couldn’t have been more truer for Molycorp on Monday. The company “may have been named DA Davidson’s ‘Best Pick for 2014’ but that didn’t save it from suffering losses on Monday. By mid-afternoon, the rare earth mineral miner had shed 3.8% to $5.78,” reports The Street.
“Last week, the Colorado-based business was praised by investment advisory service DA Davidson for its potential to become a prominent, low-cost rare earth supplier located outside of China. Rare earths are being increasingly used in semiconductors, electronic vehicles and wind energy technology.”
“DA Davidson gave the stock a “buy” rating, increasing its price target to $8 from $6.”
In metal price news for rare earths…
The week’s biggest mover on the weekly Rare Earths MMI® was neodymium, which saw a 3.6 percent decline. The price of europium oxide declined 2.2 percent over the past week. Prices for cerium oxide remained constant.
Following a steady week, prices for dysprosium oxide closed flat. The price of lanthanum oxide did not change since the previous week. Lanthanum oxide traded sideways last week. Neodymium oxide prices held steady from the previous week.
The week finished with no movement for praseodymium oxide. The price of rare earth carbonate did not change since the previous week. Prices for samarium oxide remained constant. The week finished with no movement for terbium metal.
Terbium oxide prices held steady from the previous week. Following a steady week, prices for yttria closed flat. Yttrium remained unchanged for the week.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.