Molycorp Given “Sector Outperform” Rating at CIBC (MCP)
A number of other firms have also recently commented on MCP. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Molycorp in a research note to investors on Friday. Separately, analysts at Piper Jaffray initiated coverage on shares of Molycorp in a research note to investors on Friday. They set a “neutral” rating and a $8.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Molycorp from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, March 12th. They now have a $6.60 price target on the stock.
Two investment analysts have rated the stock with a buy rating, and seven have given a hold rating to the company’s stock. The stock currently has an average rating of “hold” and an average target price of $9.75.
Shares of Molycorp (NYSE: MCP) traded down 1.78% during mid-day trading on Monday, hitting $6.08. Molycorp has a 52 week low of $5.60 and a 52 week high of $35.79. The stock’s 50-day moving average is currently $6.83. The company’s market cap is $758.9 million.
Molycorp (NYSE: MCP) last announced its earnings results on Thursday, March 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.15. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $165.98 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Molycorp will post $-0.58 earnings per share for the current fiscal year.
Molycorp, Inc. is a rare earth oxide (REO) producer in the Western hemisphere and own most fully developed rare earth project outside of China.
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