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(AMM) Molycorp shares fall in NYSE debut

July 29, 2010 - 23:06 GMT Location: New York

KEYWORDS: Molycorp Minerals , IPO , rare earth

Shares of Molycorp Minerals LLC sank 8 percent in their first day of trading on the New York Stock Exchange following the company's initial public offering (IPO).

Molycorp, which operates the sole domestic rare earth mine, offered 28.12 million shares at $14 per share Thursday. Shares touched a low of $12.10 apiece on the market before closing the day at $12.85.

The...

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