Molycorp (NYSE:MCP) issued its quarterly earnings data on Thursday. The company reported ($0.27) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.29) by $0.02, Analyst Ratings Network reports. The company had revenue of $149.10 million for the quarter, compared to the consensus estimate of $162.59 million.
A number of research firms have recently commented on MCP. Analysts at Zacks downgraded shares of Molycorp from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday. They now have a $4.60 price target on the stock. On a related note, analysts at Cowen and Company raised their price target on shares of Molycorp from $5.13 to $8.60 in a research note to investors on Tuesday, October 15th. They now have a “market perform” rating on the stock. Finally, analysts at Robert W. Baird reiterated a “neutral” rating on shares of Molycorp in a research note to investors on Tuesday, October 15th. They now have a $200.00 price target on the stock, up previously from $8.00. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.26.
Molycorp (NYSE:MCP) traded down 1.56% during mid-day trading on Thursday, hitting $4.745. 7,739,889 shares of the company’s stock traded hands. Molycorp has a one year low of $4.70 and a one year high of $11.81. The stock’s 50-day moving average is $6.18 and its 200-day moving average is $6.32. The company’s market cap is $894.9 million.
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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