Rare Earth Miner Molycorp Swings to a Profit, Misses Estimates Friday, November 11, 12:20 PM ET
Rare-earth miner Molycorp (
MCP) reported it swung to a profit for its fiscal third quarter on Thursday on higher prices for the minerals it produces.
Profits totaled $48.4 million, or $0.52 per share, compared to a loss of $10.1 million, or $0.15 per share, in last year's third quarter.
Adjusted earnings of $0.67 per share fell short of analyst expectations, however.
Revenue surged to $138.1 million from $8.5 million in 2010, still below analyst forecasts.
Molycorp shares are trading down over 12% Friday.
The Rare Earth/Strategic Metals ETF (AMEX:
REMX) is trading up about .3% today. Molycorp is the fifth-largest holding in the fund.
Other U.S.-listed companies in the top holdings include Titanium Metals (
TIE), trading up over 1.5% Friday.
Eighth-largest holding, RTI International Metals (
RTI) is trading up over 1.4% Friday, while ninth-largest holding Thompson Creek Metals ( TC) shares are trading up over 1.5%.
For MarketNewsVideo.com, I'm Sayoko Murase.
Friday Sector Laggards: Biotechnology, Aerospace & Defense Stocks
Related symbols: PSTI, PBYI, TDG, TGI
Friday Sector Leaders: Shipping, Agriculture & Farm Products
Related symbols: NM, SBLK, UAN, CRESY
Thursday Sector Laggards: Music & Electronics Stores, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: RCII, CONN, ZEUS, AKS
Friday's ETF with Unusual Volume: KBWR
Related symbols: KBWR, TCB, FHN, WTFC, HBHC
Friday's ETF Movers: SOXX, XBI
Related symbols: SWKS, CRUS, PBYI, SGYP, XBI, SOXX
XLP, DXJR: Big ETF Outflows
Related symbols: XLP, DXJR, PG, KO
Daily Dividend Report: ED, WEC, SLB, TXN, DFS
Related symbols: ED, WEC, SLB, TXN, DFS
Daily Dividend Report: VNO, CMS, PSXP, TLLP, KMI
Related symbols: VNO, CMS, PSXP, TLLP
Daily Dividend Report: O, LLTC, FAST, NTRS, MTX
Related symbols: O, LLTC, FAST, NTRS, MTX
Weekly Market Wrap: August 14, 2015
Related symbols: BAC, AMAT, AAPL, S, SYY
Weekly Market Wrap: August 7, 2015
Related symbols: SUNE, BAC, CHK, GRPN, AAPL
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
Rare Earth Miner Molycorp Swings to a Profit, Misses Estimates
| Market News Video | Copyright © 2008 - 2017, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.