Molycorp: Hot, Trending, Speculative Play
NEW YORK (TheStreet) -- A stock getting a lot of press Monday is Molycorp(MCP_).
Not only is the stock trending on all the online bulletin boards but insiders are filing Form 4s showing an accumulation of the stock. The company produces rare-earth oxides that are an essential commodity in many of the clean energy industries.
When there is a stock getting press I like to look at the numbers to see if there is value. Only recently has the market taken notice of the stock but interest is building, as shown in this hourly trading chart provided by Barchart of the price momentum during the last month:
The stock has a 40% Barchart short-term buy signal and a Trend Spotter hold signal. It is above its 20- and 50-day moving averages but still below its 100-day moving average. The price hit six new monthly highs and was up 33.73% in the last month with a Relative Strength Index 62.83. It recently traded at $10.12 with a 50-day moving average of $9.52.
Fundamental factors: Four Wall Street brokerage firms have assigned six analysts to monitor the numbers. They predict revenue to be up 54.20% this year and another 54.90% next year. Earnings are estimated to up 850% next year and increase by an annual rate of 20% over the next five years. The P/E ratio is 23.76. Although the financial strength is B+, TheStreet only rates this a D stock.
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