MP Materials Corp. (NYSE:MP) Receives $78.21 Average Price Target from Analysts

Shares of MP Materials Corp. (NYSE:MP) have received an average rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $78.2083.

A number of brokerages have weighed in on MP. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Friday, July 17th. Citigroup restated a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating on shares of MP Materials in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group restated a “buy” rating on shares of MP Materials in a research report on Tuesday.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently bought and sold shares of the business. Hancock Prospecting Pty Ltd raised its position in MP Materials by 7.2% in the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock valued at $996,741,000 after purchasing an additional 1,000,000 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of MP Materials by 5,523.6% during the second quarter. California State Teachers Retirement System now owns 9,225,687 shares of the company’s stock worth $516,731,000 after purchasing an additional 9,061,633 shares during the last quarter. State Street Corp grew its holdings in shares of MP Materials by 13.2% during the fourth quarter. State Street Corp now owns 6,597,885 shares of the company’s stock worth $333,325,000 after purchasing an additional 769,517 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of MP Materials by 76.3% during the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after purchasing an additional 1,264,243 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of MP Materials by 71.6% in the fourth quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock valued at $143,220,000 after buying an additional 1,183,307 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Up 1.7%

Shares of MP opened at $55.46 on Friday. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $51.37 and a two-hundred day moving average price of $56.56. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of -163.12 and a beta of 1.94. MP Materials has a 12 month low of $37.81 and a 12 month high of $100.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the company posted ($0.13) EPS. The company’s revenue was up 89.0% compared to the same quarter last year. Equities analysts predict that MP Materials will post -0.12 EPS for the current fiscal year.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.