Rare Earth Miner Molycorp Swings to a Profit, Misses Estimates Friday, November 11, 12:20 PM ET
Rare-earth miner Molycorp (NYSE:
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 (NYSE:
RTI) is trading up over 1.4% Friday, while ninth-largest holding Thompson Creek Metals (NYSE: TC) shares are trading up over 1.5%.
For MarketNewsVideo.com, I'm Sayoko Murase.
Friday Sector Laggards: Precious Metals, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: ANV, SVLC, CENX, CLF
Friday Sector Leaders: Sporting Goods & Activities, Manufacturing Stocks
Related symbols: WBAI, SNOW, INFN, PLCM
Thursday Sector Leaders: Airlines, Railroads
Related symbols: GOL, LUV, PWX, UNP
Friday's ETF with Unusual Volume: KIE
Related symbols: KIE, MET, AIG, MBI, GNW
Friday's ETF Movers: FDN, GDXJ
Related symbols: ETFC, P, ANV, AGI, GDXJ, FDN
EEM, CMDT: Big ETF Outflows
Related symbols: EEM, CMDT, BAP, MBT
Daily Dividend Report: INTC, CMS, WES, ALE, SBUX, PH, POM, CNW, FUL
Related symbols: INTC, CMS, WES, ALE, SBUX, PH, POM, CNW, FUL
Daily Dividend Report: MWE, ALK, GM, ADP, AEP, BHI, BRO
Related symbols: MWE, ALK, GM, ADP, AEP, BHI, BRO
Daily Dividend Report: O, OGS, FE, EQT, CIT, NRP, BGG
Related symbols: O, OGS, FE, EQT, CIT, NRP, BGG
Weekly Market Wrap: January 9, 2015
Related symbols: BAC, SAN, AAPL, CL, MET, COG, DDR
Weekly Market Wrap: January 2, 2015
Related symbols: BAC, AAPL, GE, SIRI, DOC, TCFC, NYRT, PNC
Weekly Market Wrap: December 26, 2014
Related symbols: BAC, AAPL, RAD, GILD, GRPN
Week Ahead Market Report: January 12, 2015
Related symbols: NPSP, BAC, AAPL, MU, CSCO
Week Ahead Market Report: December 29, 2014
Related symbols: BAC, AAPL, RAD, SIRI, ACHI, GAME, EXPO
Week Ahead Market Report: December 22, 2014
Related symbols: GILD, ACHN, RAD, BAC, CAMP, WAG, SCS
All videos » |
Stock market definitions »
Rare Earth Miner Molycorp Swings to a Profit, Misses Estimates
| Market News Video | Copyright © 2008 - 2015, 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.