Molycorp Reports Second Quarter Loss, But Hopeful for Hike in Rare Earth Prices

Bloomberg reported that Molycorp (NYSE:MCP) expects that rare earth prices will rise on increased demand and increased regulation over the Chinese market.

As quoted in the Bloomberg report:

The loss excluding water removal, business expansion and other abnormal items was 36 cents, the company said, wider than the 24-cent average of seven analysts’ estimates compiled by Bloomberg. Sales rose 31 percent to $136.9 million, missing the $157.5 million average of six analysts’ estimates.

To view the whole Bloomberg report, click here.