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Market Movers

Mining company to sell stock

A Molycorp Minerals worker surveyed the Mountain Pass Mine, which the mining company is working to reopen.

David Becker/Reuters/File 2009

A Molycorp Minerals worker surveyed the Mountain Pass Mine, which the mining company is working to reopen.

Molycorp Inc., owner of the largest rare-earth deposit outside China, fell after Dahlman Rose & Co. cut its recommendation to hold from buy following the company’s decision to sell bonds and stock. Molycorp, which is working to reopen the Mountain Pass mine in California, agreed to sell 12 million shares at $10 apiece and $360 million of convertible notes.