MP Materials (NYSE:MP) Earns “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of MP Materials (NYSE:MP) in a research report report published on Friday, Benzinga reports. They currently have a $30.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group cut their target price on shares of MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut MP Materials from an overweight rating to a neutral rating and reduced their price objective for the stock from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Morgan Stanley lowered MP Materials from an overweight rating to an equal weight rating and lowered their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft reduced their price target on MP Materials from $17.00 to $15.00 and set a hold rating on the stock in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group lowered their price objective 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $23.64.

MP Materials Trading Up 4.3 %

Shares of MP stock traded up $0.66 during trading hours on Friday, hitting $16.07. The company’s stock had a trading volume of 2,496,109 shares, compared to its average volume of 3,518,838. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53. The business has a fifty day moving average of $15.25 and a 200-day moving average of $16.32. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. On average, equities analysts expect that MP Materials will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pullen Investment Management LLC bought a new stake in shares of MP Materials during the 1st quarter worth $295,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MP Materials by 11.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,796 shares of the company’s stock valued at $269,000 after purchasing an additional 1,942 shares during the period. Private Advisor Group LLC increased its stake in MP Materials by 162.7% in the 1st quarter. Private Advisor Group LLC now owns 364,693 shares of the company’s stock worth $5,215,000 after purchasing an additional 225,859 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in MP Materials by 12.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 82,404 shares of the company’s stock worth $1,178,000 after buying an additional 8,850 shares during the period. Finally, Cutter & CO Brokerage Inc. lifted its stake in MP Materials by 32.6% during the first quarter. Cutter & CO Brokerage Inc. now owns 177,346 shares of the company’s stock valued at $2,536,000 after buying an additional 43,628 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

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.