Molycorp May Be Getting Ready To Rip Higher
In The Money Stocks | Jul 01, 2014 01:43AM ET
Molycorp Inc (NYSE:MCP) is trading at 52 week lows and is hated by most investors for its poor performance. While the markets trade near all time highs, this stock has fallen throughout 2014. That may be about to change.
Commodity stocks in all sectors have started to catch a big bid. Look at stocks like ConocoPhillips (NYSE:COP) in the oil sector or Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) in the copper and gold sector. They are all taking off to the upside. One of the few commodity sectors that has not started to run is rare earth mineral plays. This is the bread and butter for Molycorp Inc.
At a current price of $2.55, it is priced at almost bankruptcy levels. This can be looked at as a high-risk but also very high-reward play. Commodities are hot and likely to get hotter.
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