Molycorp Reports Wider Q1 Loss; Stock Jumps

Molycorp (NYSE:MCP released its fiscal first-quarter earnings report after the closing bell on Thursday. The company reported a wider than expected loss, but revenues topped expectations. Molycorp reported a loss of $47.22 million or $0.33 per share, compared to $3.48 million or $0.07 per share, in last year's first-quarter. This compared to analysts' consensus EPS estimates calling for a loss of $0.27. Revenue in the quarter was $146.37 million, a gain versus the $84.47 million the company reported last year. This came in ahead of Wall Street consensus sales estimates of $137.52 million. In late trading, Molycorp shares were last up a little better than 7 percent to $5.99.