MP Materials Sees Unusually Large Options Volume (NYSE:MP)

MP Materials Corp. (NYSE:MP) was the target of unusually large options trading activity on Tuesday. Stock traders bought 52,569 call options on the company. This is an increase of 90% compared to the typical daily volume of 27,736 call options.

MP Materials Price Performance

Shares of NYSE MP opened at $58.42 on Wednesday. The company has a market capitalization of $9.55 billion, a PE ratio of -89.88 and a beta of 2.26. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. MP Materials has a twelve month low of $10.02 and a twelve month high of $62.87. The firm has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $25.23.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, sell-side analysts forecast that MP Materials will post -0.19 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on MP. Jefferies Financial Group reaffirmed a “hold” rating and issued a $33.00 price target (up previously from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Robert W. Baird boosted their target price on shares of MP Materials from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, June 17th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. Canaccord Genuity Group lifted their price objective on shares of MP Materials from $27.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.28.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its holdings in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares in the last quarter. NBC Securities Inc. boosted its position in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,199 shares during the last quarter. MAI Capital Management boosted its position in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after buying an additional 800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in MP Materials during the first quarter worth $35,000. Finally, Banque Cantonale Vaudoise purchased a new stake in MP Materials in the 1st quarter valued at $35,000. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Company Profile

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.