Molycorp, Inc. (MCP) slides more than 13% today after the company had its price target lowered by JPMorgan Chase & Co. from $57.00 to $39.00. Now Molycorp has a “Neutral” rating. MCP is trading at $24.23 at 2:53PM EST on Wednesday, which is a 13.46% or $3.77 decline from its close price of $20.46 on Tuesday.Here is a list of hedge funds that may suffer big losses due to MCP’s downgrading. 1. JAT Capital Management - John Thaler: loses $19.10 million 2. Chilton Investment Company - Richard Chilton: loses $3.97 million 3. Aletheia Research and Management - Peter J. Eichler Jr. : loses $2.41 million 4. Coatue Management - Philippe Laffont: loses $1.50 million 5. Ardsley Partners - Philip Hempleman: loses $829 thousand 6. Citadel Investment Group - Ken Griffin: loses $763 thousand 7. Driehaus Capital - Richard Driehaus: loses $631 thousand 8. Angelo Gordon & Co - John M. Angelo and Michael L. Gordon: loses $518 thousand 9. Moore Global Investments - Louis Bacon: loses $207 thousand 10. Adage Capital Management - Phill Gross and Robert Atchinson: loses $189 thousand
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in MCP since the end of September. We did not take into account their option positions.