Molycorp Trading Down 15.2% on Disappointing Earnings (MCP)
Molycorp (NYSE:MCP)’s share price was down 15.2% on Thursday after the company announced weaker than expected quarterly earnings, AmericanBankingNews.com reports. The company traded as low as $3.85 and last traded at $3.86, with a volume of 8,848,099 shares traded. The stock had previously closed at $4.55.
The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.21) by $0.08. The company had revenue of $118.50 million for the quarter, compared to the consensus estimate of $144.48 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was down 18.5% on a year-over-year basis.
The stock’s 50-day moving average is $4.7 and its 200-day moving average is $4.98. The company’s market cap is $880.4 million.
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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