MP Materials Corp. (NYSE:MP) Receives Average Rating of “Moderate Buy” from Analysts

MP Materials Corp. (NYSE:MP) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $23.64.

A number of brokerages have recently commented on MP. Jefferies Financial Group cut their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday. Canaccord Genuity Group cut their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Morgan Stanley lowered MP Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered MP Materials from an “overweight” rating to a “neutral” rating and cut their target price for the company from $20.00 to $16.00 in a research note on Tuesday, April 23rd.

Institutional Trading of MP Materials

A number of institutional investors and hedge funds have recently modified their holdings of MP. Vanguard Group Inc. grew its stake in MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock valued at $255,574,000 after acquiring an additional 2,697,925 shares during the period. Dimensional Fund Advisors LP increased its holdings in MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock worth $45,956,000 after buying an additional 860,960 shares during the last quarter. Baillie Gifford & Co. raised its position in MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after acquiring an additional 614,088 shares in the last quarter. Norges Bank bought a new position in shares of MP Materials in the 4th quarter valued at about $10,484,000. Finally, Van ECK Associates Corp grew its position in shares of MP Materials by 20.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock valued at $51,770,000 after acquiring an additional 452,501 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Up 4.5 %

MP opened at $16.10 on Tuesday. The business has a 50 day moving average price of $15.25 and a 200 day moving average price of $16.32. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. The firm has a market cap of $2.87 billion, a P/E ratio of -107.33, a price-to-earnings-growth ratio of 7.34 and a beta of 2.31.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The company had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. Research analysts forecast that MP Materials will post 0.06 EPS for the current year.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. 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.