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Molycorp (MCP): Q2 EPS of -$0.03 misses by $0.11. Revenue of $104.6M (+5% Y/Y) misses by $11M....

  • Thursday, August 2, 2012, 5:21 PM ET
    Molycorp (MCP): Q2 EPS of -$0.03 misses by $0.11. Revenue of $104.6M (+5% Y/Y) misses by $11M. Prices "stabilized or declined at a much slower pace" in Q2. Company reaffirms annual production forecast of 8K-10K metric tons of REO equivalents. $306M in capex expected for remainder of year. Shares -8.6% AH. (PR)
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    Nasty miss. However, insiders have been buying and MCP may yet be a long-term stable story. I was short at $75, and again lower to below $18, but became bullish at $16.80. Seems to have been a little too soon.....future costs may be a further drag, so my bullish stance will remain on the sidelines for now.
    2 Aug 2012, 05:36 PM Reply Like
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