Molycorp Shares Drop Again on Rare Earth Prices

Financial Post reported that softer rare earth prices and decreases in equities pushed Molycorp’s (NYSE:MCP) stock price down again.

The market news is quoted as saying:

Molycorp fell 10.99 percent to $31.98 on the New York Stock Exchange. Rival Lynas Corp closed down about 17 percent on the Australian Securities Exchange on Monday. Gabelli & Co analyst Brian Chin said that the drop was likely a continuation on a fall that started last week on soft rare earth oxide and metal prices.

To read the full market news, click here.