Dallas, Texas 01/01/2014 (FINANCIALSTRENDS) – Many Molycorp Inc (NYSE:MCP) traders preferred puts over calls and there were over 7900 puts as compared to 3400 calls. Molycorp Inc. has given a lackluster performance on the charts and has reduced almost 55% during the past year. But everybody was surprised when a heavy volume was seen, as heavy as +6.9% in the early morning trading.
The 52 week high of Molycorp Inc. is $4.51 and the 52 week low of Molycorp Inc. is $4.95. If we talk about the current market capitalization of Molycorp Inc. it is around $1.16 billion. In the last trading session the shares of Molycorp Inc. opened at $4.79 and moved up to $4.87 and closed at $4.81.
Overview of Molycorp Inc (NYSE:MCP)
Molycorp Inc (NYSE:MCP) is a rare earth oxide producer that has its operations in Western hemisphere. It also owns several projects that are outside the China. The company even has ownership in REO and some rare-metal producers in Europe. Molycorp Inc. has three operating units in United States of America that produces rare earth alloys and these three operating units are the Molycorp Mountain Pass, the second one is Molycorp Sillamae and the third is Molycorp Tolleson
In April 2011 Molycorp Inc. acquired 90 percent stake in AS Silmet, Estonia and again in April 2011 it acquired another firm called as Santoku America. In October, 2011 Molycorp Inc. bought 9.9 percent remaining stake in Molycorp Sillamae and in August, 2011 the company opened its office in Tokyo, Japan. With metal demand from China seems to be improving the company is betting big on this market. Many industry insiders are bullish about this stock as this is the result there are more buyers as compared to sellers. This increase in the buying momentum has resulted into Upper Circuits in the stock market for this particular stock.