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Market Vectors Rare Earth/Strat Mtls ETF Message Board

  • hisstik hisstik Mar 7, 2011 1:16 PM Flag

    why are we down on todays news?

    WE SHOULD BE UP 1-2%
    Rare earths stocks are on the move again today as the Rare Earths Stocks Index is trading higher by 2% after China, the world's largest provider of rare earths metals, said it will lower first half exports of the metals by 35%
    olycorp (NYSE: MCP - News), the largest U.S.-based rare earths miner, is higher by 1% after a Bloomberg News piece highlighted the company's rising market value, now $4 billion, as an advantage that makes acquisitions cheaper for the company. CIBC today initiated Molycorp with a "sector outperformer" with an $80 price target, which implies upside of almost 60% from where the shares currently trade.

    The bank gave the same rating to Avalon Rare Metals (AMEX: AVL - News) along with a $9.50 price target. A fund manager quoted by Bloomberg mentioned Avalon Rare Metals as a possible takeover target for Molycorp, which has helped send shares of Avalon higher by 4%

 
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