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Reuters reported that Molycorp (NYSE:MCP) announced a sharp increase in quarterly profit due to higher rare earth prices.
Reuters reported that Molycorp (NYSE:MCP) announced a sharp increase in quarterly profit due to higher rare earth prices.
As quoted in the market news:
First-quarter adjusted profit rose to $18.3 million, or 18 cents a share, from $2 million, or 1 cent, in the year earlier period. Analysts, on average, expected earnings of 13 cents a share, according to Thomson Reuters I/B/E/S.