Molycorp Upgraded to Neutral by Zacks (MCP)
Molycorp (NYSE:MCP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Thursday, Stock Ratings Network reports. The firm currently has a $5.80 target price on the stock. Zacks‘ price target would indicate a potential upside of 3.20% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at DA Davidson raised their price target on shares of Molycorp from $6.00 to $8.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Molycorp in a research note to investors on Friday, November 8th. They now have a $5.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $29.50.
Shares of Molycorp (NYSE:MCP) traded up 8.67% during mid-day trading on Thursday, hitting $6.107. 30,177,716 shares of the company’s stock traded hands. Molycorp has a one year low of $4.51 and a one year high of $11.81. The stock has a 50-day moving average of $4.81 and a 200-day moving average of $5.96. The company’s market cap is $1.468 billion.
Molycorp (NYSE:MCP) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. The company had revenue of $149.10 million for the quarter, compared to the consensus estimate of $162.59 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 27.3% on a year-over-year basis.
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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