Molycorp (MCP) Releases Quarterly Earnings, Misses Expectations By $0.15 EPS
Molycorp (NYSE: MCP) issued its quarterly earnings data on Thursday. The company reported ($0.45) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.41 earnings per share. Molycorp’s revenue was up 1.1% compared to the same quarter last year.
A number of analysts have recently weighed in on MCP shares. Analysts at Zacks upgraded shares of Molycorp from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $6.60 price target on the stock. On the ratings front, analysts at JPMorgan Chase upgraded shares of Molycorp from an “underweight” rating to a “neutral” rating in a research note to investors on Thursday, February 7th. They now have a $6.00 price target on the stock, up previously from $5.00. Finally, analysts at Byron Capital upgraded shares of Molycorp from a “hold” rating to a “buy” rating in a research note to investors on Monday, January 28th. They now have a $15.00 price target on the stock.
Two research analysts have rated the stock with a buy rating, and seven have assigned a hold rating to the company. The company currently has a consensus rating of “hold” and a consensus target price of $9.75.
Shares of Molycorp (NYSE: MCP) traded up 0.34% during mid-day trading on Thursday, hitting $5.99. Molycorp has a one year low of $5.60 and a one year high of $35.79. The stock’s 50-day moving average is currently $6.91. The company’s market cap is $826.4 million.
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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