LONDON, April 13, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings research on Molycorp Inc. (NYSE: MCP). On March 16, 2015, the company reported its financial results for Q4 FY14 and full-year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP to read our free earnings review on Molycorp Inc. (Molycorp). During Q4 FY14 and FY14, the company's revenues were $116.24 million and $475.61 million, respectively. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP
Earnings Overview
During Q4 FY14, Molycorp's revenues fell 6% Y-o-Y from $123.81 million in Q4 FY13, largely driven by a shifting product mix, lower sales volumes from all segments, except for Rare Metals, and softened pricing for rare earths. The company's revenues outperformed Bloomberg analysts' forecasts of $104.00 million in Q4 FY14. The company's Resources and Chemicals and Oxides segment revenues were $8.66 million and $42.76 million, respectively, in Q4 FY14. Further, Magnetic Materials and Alloys and Rare Metals segments contributed $57.40 million and $21.72 million, respectively, to Molycorp's total revenues in Q4 FY14. During the reported quarter, the company reported product sales volume of 3,149 metric tons (mt) at an average selling price of (ASP) of $36.91 per kilogram, and reported a gross loss of $44.84 million. Free research on MCP can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP
For Q4 FY14, Molycorp's operating loss came in at $301.69 million. Further, the company's net loss attributable to Molycorp's stockholders was $329.80 million, or $1.43 loss per diluted share, in Q4 FY14 compared to net loss attributable to Molycorp's stockholders of $194.31 million, or $0.95 per diluted share, in Q4 FY13. During Q4 FY14, analysts from Bloomberg had expected the company to report net loss attributable to Molycorp's stockholders of $70.00 million, or $0.26 loss per diluted share.
In FY14, Molycorp's revenues decreased 14% Y-o-Y from $554.39 million in FY13, largely driven by softened rare earth pricing. The company's revenues for FY14 outperformed Bloomberg analysts' forecasts of $463.00 million. Molycorp's Resources segment revenue fell to $48.19 million in FY14 from $59.66 million in FY13. The company's revenue from Chemicals and Oxides segment for FY14 came in at $181.42 million compared to $219.07 million in FY13. For FY14, Magnetic Materials and Alloys segments' revenues stood at $230.39 million compared to $252.71 million in FY13. Furthermore, Rare Metals segments' revenues fell to $79.36 million in FY14 from $86.24 million in FY13. Sign up and read the free analyst's notes on MCP at:
http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP
Molycorp reported product sales volume of 13,019 mt at an ASP of $36.53 per kilogram and reported gross loss of $99.59 million in FY14 compared to volume sales of 12,873 mt at an ASP of $43.07 per kilogram and a gross loss of $67.17 million in FY13.
For FY14, Molycorp's operating loss stood at $450.87 million compared to operating loss of $356.69 million in FY13. Net loss attributable to Molycorp's stockholders was $604.93 million, or $2.70 loss per diluted share, in FY14 compared to net loss attributable to Molycorp's stockholders of $374.38 million, or $2.21 loss per diluted share, in FY13. For FY14, analysts from Bloomberg had expected net loss attributable to Molycorp's stockholders of $348.00 million, or $1.51 loss per diluted share.
Molycorp reported net cash used in operating activities of $222.20 million in FY14 compared to net cash used in operating activities of $154.35 million in FY13. As of December 31, 2014, the company had cash and cash equivalents of $211.69 million compared to cash and cash equivalents of $314.32 million as of December 31, 2013. Visit Investor-Edge and access the latest research on MCP at:
http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP
Stock Performance
On the day following the earnings release, March 17, 2015, Molycorp's stock plummeted 35.30% to end the session at $0.48. Since then, the stock has moved both ways with gains outperforming losses. However, on the last close, Friday, April 10, 2015, Molycorp's shares finished 11.65% lower at $0.53. The company's shares vacillated between $0.51 and $0.60 during the session. A total of 7.69 million shares were traded which was above their three months average volume of 6.65 million shares. The stock has surged 13.13% in the previous three trading sessions. However, over the last one month and over the past three months, the company's shares have declined 30.45% and 11.67%, respectively. Shares in Molycorp closed below their 50-day and 200-day moving averages of $0.67 and $1.23, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 49.49.
Sneak Peek to Corporate Insider Trading
In the last one month, Molycorp has reported only one insider transaction to the U.S. Securities and Exchange Commission (SEC). On March 19, 2015, Kevin W. Johnson, Executive Vice President and General Counsel at Molycorp, sold 954 shares of the company at a price of $0.94 per share which aggregates to a total value of $896.76. Complimentary in-depth research on MCP is available at:
http://get.Investor-Edge.com/pdf/?c=Molycorp&d=13-Apr-2015&s=MCP
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