Molycorp (MCP): Q3 EPS of $0.67 misses by $0.01. Revenue of $138M misses by $24M.
The $72 million in earnings translates into 67 cents a share, 3 cents below expectations. A year ago, the company.Revenues pose another dilemma for investors and analysts. In its fiscal third quarter, Molycorp's sales were $138.1 million. That's well below estimates, which ranged from $142 million to $192 million.
The company did not include $37.2 million it earned from selling material to its subsidiary in Estonia. If that's included, revenues would have been above consensus.
The company chose to be conservative, and says although the omission might hurt now, it will help in subsequent quarters when the Estonia plant produces high-end material from the stock shipped out of Molycorp's mine in Mountain Pass, California. Shares -3.8% AH
Share of Molcorp (MCP) was trading over $40 last week. Molycorp will have resistance at $41 follow by $42 and support area $35.This stock is buy any correction under $30 again for swing trade. I will keep on eye for this week.
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