Analysts Set MP Materials Corp. (NYSE:MP) Target Price at $46.11

Shares of MP Materials Corp. (NYSE:MP) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.8750.

A number of equities analysts recently issued reports on MP shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Friday. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group upped their price target on shares of MP Materials from $27.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, July 11th.

MP Materials Price Performance

Shares of MP opened at $65.51 on Thursday. The firm has a fifty day simple moving average of $40.18 and a two-hundred day simple moving average of $29.45. The firm has a market cap of $10.71 billion, a PE ratio of -100.78 and a beta of 2.30. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. MP Materials has a 1-year low of $10.02 and a 1-year high of $67.40.

MP Materials (NYSE:MP) last posted 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 during the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. On average, equities analysts anticipate that MP Materials will post -0.19 EPS for the current year.

Hedge Funds Weigh In On MP Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock valued at $333,503,000 after purchasing an additional 942,105 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MP Materials by 44.3% during the fourth 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 during the period. Invesco Ltd. raised its position 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 purchasing an additional 536,522 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock worth $34,433,000 after acquiring an additional 176,121 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of MP Materials by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock valued at $40,455,000 after purchasing an additional 703,042 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.