Howard Marks' investment firm Oaktree Capital has filed a 13G with the SEC regarding shares of Molycorp (MCP). Oaktree now owns 9.1% of the company with over 24.47 million shares.
This is a newly disclosed stake and the filing was required due to activity on September 11th. The filing notes that the shares beneficially owned are a result of direct ownership of 18,358,019 penny warrants and 6,119,340 Oaktree Warrants which are defined in the filing here.
If you haven't already, be sure to check out Howard Marks' book: The Most Important Thing.
Per Google Finance, Molycorp is "provides Rare Earths and Molybdenum products to companies. The Company's rare earth products comprise of bastnasite, cerium, europium, lanthanum, neodymium, praseodymium, yttrium, and other lanthanides."
Friday, September 19, 2014
Oaktree Capital Discloses Molycorp Stake
Tuesday, October 4, 2011
John Thaler's JAT Capital Buys More Molycorp (MCP)
John Thaler's hedge fund JAT Capital has been busy buying during the recent market turmoil. In a 13G filed with the SEC, JAT disclosed a 6.0% ownership stake in Molycorp (MCP) with 5,067,129 shares as of September 30th.
This marks a 226% increase in their position size as they only owned 1.5 million shares at the end of the second quarter. Last week we detailed how JAT Capital bought Netflix in size as well. It will be interesting to see if anymore filings from Thaler's fund come through. As of September 16th, JAT's Offshore Fund was up 37.29% for the year.
Per Google Finance, Molycorp is "a rare earth oxide (REO) producer in the Western hemisphere and owns a rare earth project outside of China. The Company is in development stage. The Company focuses to be an integrated producer of rare earth products, including oxides, metals, alloys and magnets. The Company’s rare earth products are used in a range of applications, including clean energy technologies, such as hybrid and electric vehicles and wind power turbines; multiple high-tech uses, including fiber optics, lasers and hard disk drives; numerous defense applications, such as guidance and control systems and global positioning systems, and advanced water treatment technology for use in industrial, military and outdoor recreation applications."
