MP Materials Corp. (NYSE:MP) Given Consensus Rating of “Moderate Buy” by Brokerages

MP Materials Corp. (NYSE:MP) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.11.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Canaccord Genuity Group boosted their price objective on MP Materials from $27.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 11th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Robert W. Baird boosted their price target on MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd.

MP Materials Stock Performance

Shares of MP opened at $60.86 on Thursday. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The firm has a market cap of $9.95 billion, a PE ratio of -93.63 and a beta of 2.26. MP Materials has a 12 month low of $10.02 and a 12 month high of $65.84. The stock has a fifty day moving average price of $37.56 and a 200-day moving average price of $28.43.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million during the quarter, compared to analysts’ expectations of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. Equities research analysts predict that MP Materials will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after purchasing an additional 942,105 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Invesco Ltd. boosted its holdings in MP Materials by 25.3% during the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock valued at $64,811,000 after acquiring an additional 536,522 shares during the period. Dimensional Fund Advisors LP grew its position in MP Materials by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock valued at $34,433,000 after acquiring an additional 176,121 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in MP Materials by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock valued at $40,455,000 after acquiring an additional 703,042 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.