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 (NYSE: TC) shares are trading up over 1.5%.
For MarketNewsVideo.com, I'm Sayoko Murase.
Friday Sector Laggards: Rental, Leasing, & Royalty, Computer Peripherals
Related symbols: PER, HGT, QLGC, QUMU
Friday Sector Leaders: Trucking, Transportation Services
Related symbols: YRCW, USAK, AVOL, AL
Thursday Sector Laggards: Precious Metals, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: HMY, HBM, USAP, CLF
Friday's ETF with Unusual Volume: PSP
Related symbols: PSP, PSEC, BX, SFE, TCPC
Friday's ETF Movers: XBI, VDE
Related symbols: MDVN, PBYI, SZYM, INT, VDE, XBI
SQQQ, BCHP: Big ETF Outflows
Related symbols: SQQQ, BCHP, KSU, JMT
Daily Dividend Report: HON, BLK, EMC, LUV, HCN, HCP, STX, AME, ETR, HAS
Related symbols: HON, BLK, EMC, LUV, HCN, HCP, STX, AME, ETR, HAS
Daily Dividend Report: MCK, SU, CBOE, CVX, UNP, HPQ, COF, VNO, MRO, BLL
Related symbols: MCK, SU, CBOE, CVX, UNP, HPQ, COF, VNO, MRO, BLL
Daily Dividend Report: MPC, HLT, CG, XOM, WFC, GILD, AMGN, SYK, PX, BDX
Related symbols: MPC, HLT, CG, XOM, WFC, GILD, AMGN, SYK, PX, BDX
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Weekly Market Wrap: July 24, 2015
Related symbols: BAC, T, AAPL, FCX, VALE
Weekly Market Wrap: July 10, 2015
Related symbols: AAPL, BAC, NBG, INTC, S
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 - 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.