MP Materials Corp. (NYSE:MP) Receives $35.33 Average Target Price from Brokerages

MP Materials Corp. (NYSE:MP) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $34.14.

MP has been the topic of a number of recent research reports. TheStreet lowered MP Materials from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. DA Davidson reduced their target price on shares of MP Materials from $42.00 to $39.00 in a report on Tuesday, July 11th. JPMorgan Chase & Co. started coverage on shares of MP Materials in a research note on Thursday. They issued an “overweight” rating and a $27.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MP Materials from $26.00 to $24.00 in a research note on Friday, July 14th. Finally, Morgan Stanley lowered their target price on MP Materials from $35.00 to $34.00 in a research report on Wednesday, June 21st.

MP Materials Trading Up 2.7 %

Shares of NYSE MP opened at $21.51 on Thursday. MP Materials has a twelve month low of $19.18 and a twelve month high of $36.67. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.65 and a beta of 2.63. The company has a quick ratio of 15.26, a current ratio of 16.15 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $22.79 and its 200-day moving average is $24.63.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. MP Materials had a return on equity of 14.63% and a net margin of 46.38%. The company had revenue of $64.02 million for the quarter, compared to analyst estimates of $60.44 million. Equities research analysts predict that MP Materials will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MP. Ameritas Advisory Services LLC bought a new stake in MP Materials during the first quarter valued at $30,000. ANTIPODES PARTNERS Ltd bought a new position in shares of MP Materials during the 1st quarter worth approximately $30,000. AllSquare Wealth Management LLC acquired a new stake in shares of MP Materials during the 1st quarter worth approximately $45,000. Sunbelt Securities Inc. boosted its stake in MP Materials by 3,848.0% during the second quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after acquiring an additional 1,924 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership increased its stake in MP Materials by 33.9% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after purchasing an additional 475 shares in the last quarter. 59.41% of the stock is currently owned by institutional investors and hedge funds.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.