Rare Earths were lifted Tuesday by news that China is looking to increase its rare earth purchases to bolster reserves. According to an article written by Wang Zhuoqiong for China Daily US, "Du Shuaibing, an analyst with market trends firm Baichuan Information, said that six large rare-earth producers are on the list for the purchasing program, which was launched last year." Shuaibing believes the purchases will target medium and heavy rare earths and total around 10,000 metric tons. Here is how some Rare Earth stocks reacted Tuesday:
Lynas Corp. (OTCMKTS: LYSCF) shares traded in the range of $0.36 to $0.40 Tuesday before settling to close at $0.37. The stock appears to be facing some resistance at the $0.37 and $0.40 levels with some support at $0.34. Shares of Lynas Corp. have fallen approximately 36.0 percent in 2013.
More information on Lynas Corp. and access to the free equity report can be found at:
Molycorp Inc. (NYSE: MCP) shares traded in the range of $7.27 to $7.78 Tuesday before settling to close at $7.29, an increase of 1.39 percent. The stock appears to be facing some resistance at the $7.51 and $7.68 levels with some support at $7.09. Shares of Molycorp have fallen approximately 23.0 percent in 2013.
More information on Molycorp and access to the free equity report can be found at:
Quest Rare Minerals Ltd. (NYSEMKT: QRM)(TSX: QRM) shares traded in the range of $0.88 to $1.00 Tuesday before settling to close at $0.90, an increase of 2.27 percent. The stock appears to have some support at the $0.82, $0.80 and $0.74 levels. Shares of Quest Rare Minerals have fallen approximately 14.0 percent in 2013.
More information on Quest Rare Minerals and access to the free equity report can be found at:
Rare Element Resources Ltd. (NYSEMKT: REE) shares traded in the range of $2.96 to $3.50 Tuesday before settling to close at $3.32, an increase of 11.41 percent. The stock appears to have some support at the $2.95, $2.49 and $2.41 levels. Shares of Rare Element Resources are down approximately 2.3 percent in 2013.
More information on Rare Element Resources and access to the free equity report can be found at:
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at http://www.wallstreetfundamentals.com/ today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals