Molycorp (MCP) Hit Following Q3 Results; Production Outlook Gives Pause
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Molycorp (NYSE: MCP) is trading lower after-hours Thursday, following third-quarter results and expectations.
Earnings were $0.67 per share with revenue of $138.1 million, versus consensus views calling for earnings of $0.03 per share and revenue of $161.57 million.
REO production in the third-quarter was 1.228 million tons, below the previously anticipated range of 1.428 to 1.890 million tons.
Looking at guidance, Molycorp lowered fourth-quarter REO from 1.468 to 1.946 billion tons to a range of 1.313 to 1.702 million tons. Fiscal 2011 REO production range moves from 4.941 million to 5.881 million tons to a range of 4.586 to 4.975 million tons.
Molycorp is down over 8 percent late Thursday.
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Earnings were $0.67 per share with revenue of $138.1 million, versus consensus views calling for earnings of $0.03 per share and revenue of $161.57 million.
REO production in the third-quarter was 1.228 million tons, below the previously anticipated range of 1.428 to 1.890 million tons.
Looking at guidance, Molycorp lowered fourth-quarter REO from 1.468 to 1.946 billion tons to a range of 1.313 to 1.702 million tons. Fiscal 2011 REO production range moves from 4.941 million to 5.881 million tons to a range of 4.586 to 4.975 million tons.
Molycorp is down over 8 percent late Thursday.
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