Molycorp: An Intriguing Prospect
At the end of January, Constantine Karayannopolous, vice chairman and acting CEO of Molycorp (MCP), bought $100,000 worth of the company's stock on the open market, part of a cluster of insider purchases at the Greenwood Village, Colo., company in the past few months.
Mark Smith spent $120,000 in November to beef up his holdings before stepping down as CEO and now owns more than a million shares. Charles Henry, a director, spent more than $300,000 in November to increase his holding in the rare-earths producer to 110,593 shares. Two more directors also purchased shares. Molibdenos y Metales SA, a Chilean company that already owned about 10% of Molycorp, spent $110 million in January to increase its stake to 18%....244 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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