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

Shares of MP Materials Corp. (NYSE:MP) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $25.19.

MP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday. Canaccord Genuity Group dropped their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Jefferies Financial Group dropped their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd.

Hedge Funds Weigh In On MP Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in MP Materials by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock worth $270,669,000 after purchasing an additional 254,881 shares in the last quarter. BlackRock Inc. grew its holdings in MP Materials by 1.8% during the 2nd quarter. BlackRock Inc. now owns 8,933,628 shares of the company’s stock worth $204,401,000 after acquiring an additional 157,764 shares during the last quarter. State Street Corp grew its holdings in MP Materials by 3.5% during the 2nd quarter. State Street Corp now owns 5,965,832 shares of the company’s stock worth $136,498,000 after acquiring an additional 200,041 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in MP Materials by 15.2% during the 4th quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after acquiring an additional 411,771 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

Shares of MP stock opened at $17.29 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 133.00 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The company has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $16.55. MP Materials has a 52 week low of $12.68 and a 52 week high of $28.71.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. On average, sell-side analysts predict that MP Materials will post -0.13 earnings per share for the current year.

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.