Molycorp (NYSE:MCP)‘s stock had its “neutral” rating reaffirmed by research analysts at Robert W. Baird in a report released on Tuesday, Stock Ratings News reports. They currently have a $200.00 target price on the stock, up from their previous target price of $8.00.
Shares of Molycorp (NYSE:MCP) traded down 3.76% during mid-day trading on Tuesday, hitting $5.37. 18,523,630 shares of the company’s stock traded hands. Molycorp has a 52-week low of $4.70 and a 52-week high of $11.89. The stock’s 50-day moving average is $6.7 and its 200-day moving average is $6.34. The company’s market cap is $1.013 billion. Molycorp also was the target of some unusual options trading on Tuesday. Investors acquired 30,114 call options on the stock. This represents an increase of approximately 132% compared to the average daily volume of 12,987 call options.
Molycorp (NYSE:MCP) last announced its earnings results 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. Analysts expect that Molycorp will post $-0.92 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Zacks downgraded shares of Molycorp from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, August 12th. They now have a $6.40 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.56.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.