Seeking Alpha

Molycorp -5.3% AH as losses mount, revenues slide

  • Molycorp (MCP) -5.3% AH after Q4 results show another quarter of losses and a 17% Y/Y drop in revenues attributed to a shifting product mix and lower prices for rare earth minerals and lower volumes of its magnetic powders.
  • FY 2013 revenues rose 5%, but negative cash flow from operations totaled $154M for the year and capital expenses totaled $379M; MCP forecasts 2014 capex will total $80M-$90M.
  • Says the chlor-alkali plant at its Mountain Pass, Calif., rare earth facility has successfully completed commissioning and is now operational, which MCP expects to facilitate increased production volumes at lower production costs.
  • No guidance offered.

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