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Molycorp Inc. (MCP) Stock - Buy, Sell, Hold?
Molycorp, Inc. (MCP) has been one of the top NYSE stocks in the stock market over the past year as rare earth metal prices continue to soar. I am making this MCP forum thread to update my thoughts and chart as I bought back the stock yesterday.
Molycorp Inc. (MCP) is a development stage company, focusing on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. The company operates the Mountain Pass mine, a non-Chinese rare earth deposit located in San Bernardino County, California. Its rare earth products are used as inputs in various existing and emerging applications comprising clean energy technologies; multiple high-tech uses; defense applications; and water treatment technology. The company was founded in 2008 and is headquartered in Greenwood Village, Colorado.
I started trading MCP in January 2011 and ended up taking a full position around $45 while trading additional shares as well. I sold out in March 2011 between $53-$62 before watching MCP run up to $80.
http://www.stockstobuy.org/forum/topics/molycorp-inc-mcp-rare-earth
MCP stock is now back below $58 and I am starting to buy down here. My goal is to buy the rest below $56, as low as possible. I will not pay above $60 from here on out unless I am buying additional shares to trade.
MCP, in my opinion, is both a buy and a hold below $60 and a sell on 10-15% rallies if you are trading the stock. If you plan to hold into 2012, through the ups and the downs, some analysts have price targets of $85-$125.
My personal 2012 Price Target for Molycorp (MCP) has been revised to $95 from $85 given the recent aquisitions and the rise in rare earth metal prices.
The lowest I can see MCP going right now is down to $50-$51, but that would take some serious capitulation/panic selling. If you are able to buy down there, I believe you will do excellent in the short and long term.
Tags: 2011, 2012, earth, mcp, metals, molycorp, price, rare, stock, target
Views: 2553
Replies to This Discussion
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Permalink Reply by Pmarket on -
There's a huge disconnect between price and reality in the markets right now. If you believe the long term fundamentals are still in tact, then buying MCP at 8.5x forward P/E is a good buy. But that's a long term perspective, short term, everything is correlated with this backdrop so this thing can go under $20 if there's panic, which I wouldn't count out if you've been watching the markets these last 5 months. So with any stock, caveat emptor.
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Permalink Reply by Stocks To Buy on -
Rare Earth prices have really been tanking so until they turn around, there will be pressure on the stock
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Permalink Reply by Chad Sadler on
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i forgot to cancel my limit buy, bought in at 26.86$. Any idea of support. If it drops below the low of the year which was 26.48$ if I remember correctly, is there a support close to that? I think I'll put a stop sell at 26$ until i hear otherwise.
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Permalink Reply by Danny on -
If you want to sell that is, but overall its vertaintly a better entry than most have had in these market conditions
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Permalink Reply by Chad Sadler on
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I would sell as soon as I'm up 5-6%. If it got up to 30 or 29 I'd be happy. I decided not to hold things long term for the time being, except for silver, bought agq 3 days ago, right before it plummeted. That's all that's in my long term. otherwise, a few days or a day, and I sell when I,m up
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Permalink Reply by Chad Sadler on
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got stopped out. It's not looking great when it's going down on an up day. I'm sure this will kick back up soon, I just wasn't comfortable holding it much longer
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Permalink Reply by Trekkie on
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Guys, i'm thinking of buying into this stock and holding on to it way into 2012... Do you think its a good idea or will this thing continue to down fall in single digits?
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Permalink Reply by Stocks To Buy on
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I'm thinking we could be close to the bottom in rare earth prices. They have dropped their hardest this week which could signal a bottom soon. I am waiting until I see them start to tick back up a little bit before I buy Molycorp (MCP).
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