UPDATE: Dahlman Rose Downgrades Molycorp to Hold on Capital Requirements

Dahlman Rose downgraded Molycorp

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.