Molycorp Inc. Earnings Cheat Sheet: Profitable Quarter

Molycorp Inc. (NYSE:MCP) reported its results for the third quarter. Molycorp is a rare earth oxide producer in the Western Hemisphere. The company owns fully developed rare earth projects outside of China. It is a development stage company.

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Molycorp Earnings Cheat Sheet for the Third Quarter

Results: Reported a profit of $48.4 million (52 cents per diluted share) in the quarter. Molycorp Inc. had a net loss of $10.1 million or a loss 14 cents per share in the year earlier quarter.

Revenue: Rose to $138.1 million.

Quoting Management: “During the third quarter, we achieved record sales, margin, and income,” said Mark Smith, Molycorp President and Chief Executive Officer. “This is a phenomenal accomplishment by our Molycorp family, particularly as we have simultaneously announced accelerated plans for Project Phoenix Phase1 and two at Mountain Pass.”

Competitors to Watch: Avalon Rare Metals Inc (AMEX:AVL), Thompson Creek Metals Co., Inc. (NYSE:TC), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), 3M Company (NYSE:MMM), PolyMet Mining Corp. (AMEX:PLM), General Moly, Inc. (AMEX:GMO), Karat Platinum Inc. (KRAT), TapSlide, Inc. (TSLI), Denia Enterprises Inc (DNIA), and Thompson Creek Metals Co., Inc. (NYSE:TCM).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)