Molycorp Swings to Quarterly Profit as Prices Rise

MarketWatch reported that Molycorp (NYSE:MCP) turned a profit in third quarter 2011.

As quoted in the market news:

Molycorp reported earnings of $48.4 million, or 52 cents a share, compared with a prior-year loss of $10.1 million, or 15 cents a share. Excluding stock-based compensation and other impacts, adjusted earnings were 67 cents, while the prior-year loss was 4 cents.

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