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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: 3122
Replies to This Discussion
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Top MemberPermalink Reply by ljkp2004 on -
28 still a gift, like ree support @ 6 smackers since last pop
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Top MemberPermalink Reply by Danny on -
I have a feeling mcp might run
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Top MemberPermalink Reply by Danny on -
Tim I remember you mentioned $33 as resistance for MCP which it broke out. Any thoughts at current levels?
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Top MemberPermalink Reply by Danny on -
Mcp gapping up today
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Permalink Reply by Stocks To Buy on -
Danny, I think MCP hit bottom and today the stock is higher on takeover rumors. This is what happens when the market is up so much. Risk on. Did you get back into the market yet?
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Top MemberPermalink Reply by Danny on -
Umm no. Lol kind of embarrassing missing this amazing rally I know.
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Top MemberPermalink Reply by Danny on -
MCP looks pretty strong the last couple days in the eye of the sell off
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