Molycorp (NYSE:MCP) had its price target upped by Cowen and Company from $5.13 to $8.60 in a research note issued to investors on Tuesday, AR Network reports. The firm currently has a market perform rating on the stock.
A number of other firms have also recently commented on MCP. Analysts at Robert W. Baird reiterated a neutral rating on shares of Molycorp in a research note to investors on Tuesday. They now have a $200.00 price target on the stock, up previously from $8.00. Separately, analysts at Goldman Sachs Group Inc. cut their price target on shares of Molycorp to $5.00 in a research note to investors on Tuesday. Finally, analysts at Zacks upgraded shares of Molycorp from an underperform rating to a neutral rating in a research note to investors on Wednesday, October 9th. They now have a $7.30 price target on the stock. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $29.56.
Molycorp (NYSE:MCP) opened at 5.49 on Tuesday. Molycorp has a 1-year low of $4.70 and a 1-year high of $11.89. The stock’s 50-day moving average is $6.71 and its 200-day moving average is $6.33. The company’s market cap is $1.035 billion. Molycorp also was the recipient of unusually large options trading activity on Tuesday. Traders bought 30,114 call options on the stock. This represents an increase of approximately 132% compared to the typical volume of 12,987 call options.
Molycorp (NYSE:MCP) last released its earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.11. The company had revenue of $136.90 million for the quarter, compared to the consensus estimate of $157.56 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, analysts predict that Molycorp will post $-0.92 earnings per share for the current fiscal year.
Molycorp, Inc provides Rare Earths and Molybdenum products to companies. The Company’s rare earth products comprise of bastnasite, cerium, europium, lanthanum, neodymium, praseodymium, yttrium, and other lanthanides.
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