Molycorp has seen it’s fair share of bad news lately and is having a difficult 2013 overall.
Examining MCP’s earnings estimate front: “Estimates have moved from a loss of 90 cents a share 90 days ago (for the current year) to a loss of $1.22 a share right now…Even more troubling is the 2014 forecast for Molycorp, which was showing a profit of 20 cents a share as recently as two month ago. Now though, the stock is expected to lose 14 cents a share, suggesting a drastic reversal in the fortunes for this company’s short and long-term prospects,” reports Forbes.
“If that wasn’t enough, MCP is also in terrible company from an industry rank perspective. At time of writing, the industry was in the bottom five out of more than 260 industries.”
Prices for praseodymium neodymium oxide saw the biggest increase on the weekly Rare Earths MMI® this week, rising 1.4 percent. Cerium oxide prices held steady from the previous week. Dysprosium oxide remained essentially flat from the previous week.
The week finished with no movement for europium oxide. Lanthanum oxide traded sideways last week. The price of lanthanum oxide did not change since the previous week. Following a steady week, prices for neodymium closed flat.
Prices for praseodymium oxide remained constant. Rare earth carbonate remained unchanged for the week. Samarium oxide prices held steady from the previous week. Following a steady week, prices for terbium metal closed flat.
The week finished with no movement for terbium oxide. Prices for yttria remained constant. Yttrium remained essentially flat from the previous week.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.