NEW YORK ( TheStreet) -- The following stocks slumped to 52-week lows on Thursday: Molycorp (MCP), Arch Coal (ACI), ArcelorMittal (MT), MetroPCS (PCS), Peabody Energy (BTU), Nokia (NOK), First Solar (FSLR) and NutriSystem (NTRI)
Shares of Molycorp hit a 52-week low on Thursday of $19.23. The stock's 52-week high of $66.62 was set on Aug. 1.
"We are increasing our price target on MCP by $5, to $55, to account for the accretion associated with the closure of the Neo Materials deal," Dahlman Rose analysts wrote in a May 29 report. "We now use a sum of the parts valuation analysis, versus our historical NAV analysis. While the NAV of the Mountain Pass mine composes the bulk of the value in our price target, $50, we are applying a 10x multiple to the $0.50 accretion that we calculate Neo Materials will contribute to the combined entity. We reiterate our Buy rating on MCP shares."Molycorp trades at an estimated price-to-earnings ratio for next year of 4.99 times; the average for general mining companies is 17.52. For comparison, Compass Minerals (CMP) has a higher forward P/E of 12.09. Analysts were split on Molycorp with five of them giving the stock a buy rating and another five rating it hold. The stock has fallen 18.97% year to date.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV