Molycorp Inc., owner of the largest rare-earth deposit outside China, reported fourth-quarter earnings that beat analysts’ estimates after it sold more high-value alloys.
Net income was $26.6 million, or 26 cents a share, the Greenwood Village, Colorado-based company said today in a statement. A year earlier, Molycorp reported a loss of $7.9 million, or 10 cents. Profit excluding compensation and water-removal expenses was 41 cents, beating by 1 cent the average of six estimates compiled by Bloomberg. Sales rose sixfold to $132.9 million from $21.7 million.