NEW YORK ( TheStreet) -- The following stocks slumped to 52-week lows on Thursday: Molycorp (MCP - Get Report), Arch Coal (ACI), ArcelorMittal (MT), MetroPCS (PCS), Peabody Energy (BTU), Nokia (NOK - Get Report), First Solar (FSLR - Get Report) and NutriSystem (NTRI - Get Report)
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.