MP Materials Corp. (NYSE:MP – Get Free Report) shares reached a new 52-week high on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $20.00 to $69.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. MP Materials traded as high as $63.22 and last traded at $62.42, with a volume of 14651725 shares changing hands. The stock had previously closed at $60.26.
Several other analysts have also issued reports on MP. DA Davidson lifted their target price 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. Jefferies Financial Group reiterated a “hold” rating and issued a $33.00 target price (up previously from $32.00) on shares of MP Materials in a research report on Monday, July 7th. JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $34.00 in a research report on Thursday, June 5th. Finally, Robert W. Baird lifted 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.56.
Check Out Our Latest Report on MP Materials
Hedge Funds Weigh In On MP Materials
MP Materials Stock Up 4.7%
The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The business’s 50 day simple moving average is $31.11 and its 200 day simple moving average is $26.09. The company has a market capitalization of $10.31 billion, a PE ratio of -97.08 and a beta of 2.26.
MP Materials (NYSE:MP – Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $60.81 million for the quarter, compared to analysts’ expectations of $64.74 million. During the same period last year, the firm earned ($0.04) earnings per share. MP Materials’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.
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