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UPDATE: Dahlman Rose Downgrades Molycorp to Hold on Capital Requirements

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Dahlman Rose downgraded Molycorp (NYSE: MCP) from Buy to Hold.

Dahlman Rose commented, "In the company's 8-K, filed alongside its proposed $300MM capital raise announcement, management alluded to an additional $130MM in capex for 2013. We are downgrading Molycorp to Hold from Buy, based on unanticipated additional scaling up of capital requirements."

Molycorp closed at $7.97 on Tuesday.

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