Traders Buy High Volume of Molycorp Call Options (MCP)
Shares of Molycorp (NYSE:MCP) saw unusually large options trading on Tuesday. Traders acquired 31,744 call options on the company, Stock Ratings Network.com reports. This is an increase of approximately 165% compared to the typical volume of 11,979 call options.
Several analysts have recently commented on the stock. 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 research analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.44.
Shares of Molycorp (NYSE:MCP) traded up 1.39% on Tuesday, hitting $7.29. 15,718,215 shares of the company’s stock traded hands. Molycorp has a 1-year low of $4.70 and a 1-year high of $11.89. The stock has a 50-day moving average of $6. and a 200-day moving average of $6.. The company’s market cap is $1.375 billion.
Molycorp (NYSE:MCP) last posted its quarterly earnings results 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 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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