Molycorp Viewed as Inexpensive Takeover Target

Bloomberg reported that Molycorp (NYSE:MCP) is being seen as undervalued, making it an attractive takeover target.

As quoted in the market news:

The owner of the biggest U.S. rare-earth deposit, which rose 30 percent since agreeing in March to buy Neo Material Technologies Inc. to bolster its magnet-making ability, was still valued last week at 3.4 times next year’s earnings before interest, taxes, depreciation and amortization, according to data compiled by Bloomberg. That was cheaper than nine out of 10 metals and mining companies and a third less than the industry median.

Click here to read the full Bloomberg report.