The Conversation (0)
Bloomberg reported that Molycorp’s major losses in 2012 and low valuation are making it an attractive takeover target.
Bloomberg reported that Molycorp’s major losses in 2012 and low valuation are making it an attractive takeover target.
As quoted in the market report:
The owner of the biggest U.S. deposit of metals that go into everything from smartphones to solar panels and hybrid cars handed investors losses of 61 percent in 2012 amid a slump in rare-earth prices, cost overruns at its California mine, a regulatory probe and the departure of its chief executive officer. Even after the shares rebounded from a record low in November, Molycorp is trading at a 19 percent discount to its book value, according to data compiled by Bloomberg.