OTCPK:MCPIQ - Post by User
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Endorseon Sep 04, 2012 2:03pm
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Post# 20315830
Going Forward
Going Forward Don't Push the Panic Button on Rare Earths:
Lisa Reisman
TCMR: The sector's biggest player, Molycorp Inc. (MCP:NYSE), recently announced it will raise almost $600 million through equity and bond financing. But it recently missed the Street's Q2/12 targets by a fair margin. What happened there?
LR: Wall Street's expectations do not always reflect what is happening in the industrial market. The Street is unhappy because it invented earnings targets for Molycorp based on last year's frothy price scenarios.
Molycorp is sitting on the most amazing book of business of any metal producer in the U.S. Everything it produces is booked out and sold going forward. Molycorp is in an envious position compared to other producers.