Traders Buy Large Volume of Put Options on Molycorp (MCP)
Shares of Molycorp (NYSE:MCP) saw some unusual options trading on Wednesday. Investors bought 14,873 put options on the company, StockRatingsNetwork.com reports. This is an increase of 177% compared to the typical volume of 5,368 put options.
A number of research firms have recently commented on MCP. Analysts at Zacks upgraded shares of Molycorp from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, January 2nd. They now have a $5.80 price target on the stock. Separately, 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, January 2nd. They now have a “buy” rating on the stock. Finally, analysts at DA Davidson cut their price target on shares of Molycorp from $8.00 to $6.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.50.
Shares of Molycorp (NYSE:MCP) opened at 5.67 on Thursday. Molycorp has a 1-year low of $4.51 and a 1-year high of $9.25. The stock’s 50-day moving average is $5.11 and its 200-day moving average is $5.9. The company’s market cap is $1.363 billion.
Molycorp (NYSE:MCP) last announced its earnings results on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.05) earnings per share. Molycorp’s revenue was down 27.3% compared to the same quarter last year. Analysts expect that Molycorp will post $-1.05 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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