Molycorp Slumps After Dahlman Rose Downgrade on Fundraising
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Molycorp Inc., owner of the largest rare-earth deposit outside China, fell 12 percent after Dahlman Rose & Co. cut its recommendation to hold from buy following the mining company’s decision to sell bonds and stock.
The shares slid to $9.84 at the close in New York, the lowest since the company’s July 2010 initial public offering. They have tumbled 82 percent in the last 12 months.