logo
  Join        Login             Stock Quote

Molycorp (MCP) Surges Amid Disclosure of Insider Buying

 November 23, 2012 12:02 PM
 


(By Balachander) Molycorp Inc. (NYSE: MCP) shares jumped in Friday trading amid disclosures of insider buying.

The stock, which has been trading in a 52-week range of $5.75 to $35.79, traded 14.45 percent higher at $8.29 on Friday.

Director Charles Henry bought a total of 45,192 shares at prices between $6.9499 and $7.1011 on Tuesday, a U.S. Securities and Exchange Commission filing (SEC) showed.

John Ashburn, Jr., executive vice president and general counsel of Molycorp, acquired 10,000 shares at $6.196 on Monday.

The recent purchases by Molycorp's executives follow CEO Mark Smith's purchase of 20,000 shares for an average price of $6.2024.

[Related -Molycorp Inc (MCP): Will Q3 Results Impress Investors?]

Earlier this month, the rare earth oxide (REO) producer disclosed a formal order of investigation from the SEC.

The SEC in August requested information from Molycorp in connection with a formal order of investigation pertaining to, among other things, the accuracy of Molycorp's public disclosures.

Last week, Morgan Stanley downgraded its rating on the stock to "equal weight" from "overweight". CIBC lowered its price target to $20 from $30.

Molycorp, the owner of the largest rare-earth deposit outside China, produces rare-earth metals such as niobium and tantalum, and rare-earth alloys such as neodymium-iron-boron and samarium-cobalt alloys.

Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBogle Says Indexing Destined To Win The Battle Of The Quants

Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out read on...

article imageVMAX and VMIN Poised to Be Most Important VIX ETP Launch in Years

REX Shares is launching two new VIX exchange-traded products on Tuesday in what is likely to be the most read on...

article imageThe April 29 Gold Triangle Breakout Update

If you’re just watching stocks, you may be missing this powerful Triangle Breakout surge in read on...

article imageSell In May, But It Is A Presidential Election Year

With May just around the corner, articles covering the "Sell in May' phenomenon are not in short supply and read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.