Share on StockTwits

Molycorp (NYSE:MCP)’s share price hit a new 52-week low during mid-day trading on Monday , Analyst Ratings Network.com reports. The company traded as low as $2.62 and last traded at $2.67, with a volume of 2,142,528 shares traded. The stock had previously closed at $2.77.

A number of analysts have recently weighed in on MCP shares. Analysts at Morgan Stanley downgraded shares of Molycorp from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, May 20th. They now have a $2.50 price target on the stock, down previously from $2.85. Separately, analysts at Goldman Sachs cut their price target on shares of Molycorp to $4.00 in a research note on Thursday, May 15th. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Molycorp from a “neutral” rating to an “underweight” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.78.

The stock’s 50-day moving average is $3.92 and its 200-day moving average is $4.73. The company’s market cap is $658.3 million. Molycorp also saw a large increase in short interest in May. As of May 15th, there was short interest totalling 70,614,271 shares, an increase of 8.9% from the April 30th total of 64,829,555 shares. Approximately 41.8% of the company’s shares are sold short. Based on an average daily volume of 8,392,712 shares, the short-interest ratio is presently 8.4 days.

Molycorp (NYSE:MCP) last announced its earnings results on Wednesday, May 7th. 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. On average, analysts predict that Molycorp will post $-1.00 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.