NEW YORK (

TheStreet

) --

Molycorp

(NYSE:

MCP

) hit a new 52-week low Wednesday as it is currently trading at $24.28, below its previous 52-week low of $25.60 with five million shares traded as of 12:55 p.m. ET. Average volume has been 4.3 million shares over the past 30 days.

Molycorp has a market cap of $2.39 billion and is part of the

basic materials

sector and

metals & mining

industry. Shares are down 43.9% year to date as of the close of trading on Tuesday.

Molycorp, Inc., a development stage company, focuses on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. The company operates the Mountain Pass mine, a non-Chinese rare earth deposit located in San Bernardino County, California. The company has a P/E ratio of 29.6, equal to the average metals & mining industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Molycorp as a

sell

. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself. You can view the full

Molycorp Ratings Report

.

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