Jefferies Financial Group Upgrades MP Materials (NYSE:MP) to “Buy”

MP Materials (NYSE:MP) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a $80.00 price objective on the stock. Jefferies Financial Group’s target price suggests a potential upside of 25.49% from the company’s previous close.

Several other analysts also recently weighed in on the company. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Robert W. Baird upped their price target on MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, MP Materials presently has a consensus rating of “Hold” and an average target price of $57.88.

MP Materials Price Performance

NYSE MP opened at $63.75 on Friday. MP Materials has a 1 year low of $10.02 and a 1 year high of $65.84. The company has a fifty day simple moving average of $39.26 and a 200 day simple moving average of $29.09. 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 company has a market cap of $10.42 billion, a P/E ratio of -98.08 and a beta of 2.29.

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

Institutional Investors Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of MP. Highline Wealth Partners LLC bought a new position in shares of MP Materials during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc raised its stake in MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after acquiring an additional 506 shares in the last quarter. NBC Securities Inc. lifted its holdings 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 acquiring an additional 1,199 shares during the period. Harbour Investments Inc. boosted its stake in shares of MP Materials by 32.9% in the 2nd quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock valued at $41,000 after purchasing an additional 302 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

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.