Traders Purchase High Volume of Put Options on Molycorp (MCP)
Shares of Molycorp (NYSE:MCP) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 7,885 put options on the stock, ARN reports. This is an increase of 145% compared to the average daily volume of 3,218 put options.
MCP has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Molycorp (NYSE:MCP) 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. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Molycorp (NYSE:MCP) in a research note to investors on Friday, August 9th. They now have a $6.00 price target on the stock. Finally, analysts at Byron Capital upgraded shares of Molycorp (NYSE:MCP) to a “strong-buy” rating in a research note to investors on Friday, July 12th.
One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.44.
Shares of Molycorp (NYSE:MCP) opened at 6.87 on Thursday. Molycorp has a 52-week low of $4.70 and a 52-week high of $14.44. The stock has a 50-day moving average of $6.69 and a 200-day moving average of $6.17. The company’s market cap is $1.296 billion.
Molycorp (NYSE:MCP) last issued its quarterly 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. Analysts expect that Molycorp will post $-0.93 EPS 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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