JPMorgan Chase Reiterates Neutral on Molycorp (MCP)
Molycorp (NYSE: MCP)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase (NYSE: JPM) in a report issued on Friday. They currently have a $23.00 target price on the stock.
Shares of Molycorp opened at 24.68 on Friday. Molycorp has a one year low of $23.05 and a one year high of $79.16. The company has a market cap of $2.379 billion and a P/E ratio of 20.48.
Molycorp last issued its quarterly earnings data on Thursday, May 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company’s revenue for the quarter was up 222.5% on a year-over-year basis. On average, analysts predict that Molycorp will post $0.16 earnings per share next quarter.
A number of other firms have also recently commented on MCP. Analysts at Dahlman Rose reiterated a “buy” rating on shares of Molycorp in a research note to investors on Friday, May 4th. Separately, analysts at TheStreet upgraded shares of Molycorp to a “hold” rating in a research note to investors on Wednesday, April 18th. Finally, analysts at Morgan Stanley (NYSE: MS) reiterated an “overweight” rating on shares of Molycorp in a research note to investors on Monday, March 5th. They now have a $81.00 price target on the stock.
Molycorp, Inc. is a rare earth oxide (REO) producer in the Western hemisphere and own most fully developed rare earth project outside of China.