Hedge Funds Suffer Losses After Molycorp Was Downgraded By JPM

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.

CHILTON INVESTMENT COMPANY

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.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!