Articles Tagged "NYSE:MCP"

Moody’s Downgrades Molycorp

Moody's Investor Service has downgraded Molycorp (NYSE:MCP) from Ca to Caa2. The firm has a negative outlook for Molycorp, and its ratings change comes after the company decided to take advantage of a 30-day grace period on a $32.5 million semi-annual payment of its senior secured notes. Moody's noted that Molycorp has said it "intends to use the grace period to continue to evaluate different options to restructure its capital structure."

Don Lay Medallion Resources

Don Lay of Medallion Resources Talks Rare Earths Prices

China removed its export tariffs on rare earths, tungsten and molybdenum at the start of May. Shortly afterwards it announced changes to its resource tax regime for rare earths. A number of analysts and market watchers have commented on how those changes might affect rare earths prices — here, Don Lay of Medallion Resources weighs in with his thoughts.

Molycorp Takes a Hit Following Q1 Results Release

The company incurred a net loss of $102 million, or $0.42 per share, for Q1. Meanwhile, it's facing delisting from the NYSE and is concerned about repaying convertible notes maturing in June. Overall, if Molycorp is "unable to execute [its] business plan and restructure [its] debt, [it] may not be able to continue."