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TMCNet:  Molycorp Continues To Climb On Morgan Stanley Rare Earths Report (MCP)

[March 29, 2012]

Molycorp Continues To Climb On Morgan Stanley Rare Earths Report (MCP)

Mar 29, 2012 (SmarTrend(R) News Watch via COMTEX) -- 3/29/12-Shares of Molycorp (NYSE:MCP) are trading 4.7% higher after Morgan Stanley reported Chinese rare earth prices rose 10% on average yesterday.

The bank added that it continues to see rare earth prices at an attractive level, haven fallen so heavily, and should stoke demand and predicts seasonal pickup will help stabilize prices.

SmarTrend is bullish on shares of Molycorp and our subscribers were alerted to buy on March 09, 2012 at $29.32. The stock has risen 12.9% since the alert was issued.

Molycorp, Inc. produces rare earth minerals. The company produces rare earth products, including oxides, metals, alloys and magnets for a variety of applications including clean energy technologies, technology, and defense applications.

Molycorp (NYSE:MCP) has potential upside of 34.5% based on a current price of $33.09 and an average consensus analyst price target of $44.5.

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