Molycorp’s Underweight Rating Reaffirmed at JPMorgan Chase & Co. (MCP)
MCP has been the subject of a number of other recent research reports. Analysts at Eurobank EFG upgraded shares of Molycorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 6th. Separately, 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. Finally, analysts at Goldman Sachs cut their price target on shares of Molycorp to $4.00 in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Molycorp currently has a consensus rating of “Hold” and a consensus target price of $5.78.
Molycorp (NYSE:MCP) opened at 2.36 on Monday. Molycorp has a 52 week low of $1.61 and a 52 week high of $7.78. The stock has a 50-day moving average of $2.23 and a 200-day moving average of $3.82. The company’s market cap is $577.7 million.
Molycorp (NYSE:MCP) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.01. The company had revenue of $116.91 million for the quarter, compared to the consensus estimate of $130.97 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. On average, analysts predict that Molycorp will post $-1.02 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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