Stock Traders Buy Large Volume of Put Options on Molycorp (MCP)
Shares of Molycorp (NYSE:MCP) was the target of unusually large options trading activity on Monday. Traders acquired 7,885 put options on the stock, StockRatingsNetwork.com reports. This is an increase of 113% compared to the average daily volume of 3,704 put options.
A number of research firms have recently commented on MCP. 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 equities 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 given a strong buy rating to the company. Molycorp presently has a consensus rating of “Hold” and a consensus target price of $8.44.
Molycorp (NYSE:MCP) traded up 4.67% on Tuesday, hitting $6.73. The stock had a trading volume of 5,096,597 shares. Molycorp has a 52 week low of $4.70 and a 52 week high of $14.44. The stock’s 50-day moving average is $6.61 and its 200-day moving average is $6.18. The company’s market cap is $1.269 billion.
Molycorp (NYSE:MCP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.03) earnings per share. Molycorp’s revenue was up 30.9% compared to the same quarter last year. 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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