Molycorp Upgraded to Neutral at Zacks (MCP)
Molycorp (NYSE:MCP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a $7.30 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 2.82% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Molycorp in a research note to investors on Friday, August 9th. They now have a $6.00 price target on the stock. Analysts at Byron Capital upgraded shares of Molycorp to a “strong-buy” rating in a research note to investors on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.55.
Shares of Molycorp (NYSE:MCP) traded down 0.99% during mid-day trading on Wednesday, hitting $7.03. 3,336,477 shares of the company’s stock traded hands. Molycorp has a one year low of $4.70 and a one year high of $11.89. The stock’s 50-day moving average is $6.66 and its 200-day moving average is $6.29. The company’s market cap is $1.326 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 last year, the company posted ($0.03) earnings per share. Molycorp’s revenue was up 30.9% compared to the same quarter last year. On average, analysts predict that Molycorp will post $-0.92 earnings per share 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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