MP Materials Corp. (NYSE:MP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MP Materials Corp. (NYSE:MP) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $75.42.

A number of analysts have issued reports on the company. Needham & Company LLC decreased their price target on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of MP Materials in a research note on Wednesday, August 19th. Freedom Broker started coverage on shares of MP Materials in a report on Wednesday, September 16th. They set a “hold” rating and a $57.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research report on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th.

MP Materials Trading Up 1.9%

Shares of MP Materials stock opened at $46.96 on Tuesday. MP Materials has a fifty-two week low of $37.81 and a fifty-two week high of $100.25. The firm has a market cap of $8.36 billion, a PE ratio of -138.12 and a beta of 1.98. The business’s fifty day moving average is $51.29 and its two-hundred day moving average is $55.27. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business’s revenue was up 89.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) earnings per share. Analysts anticipate that MP Materials will post -0.17 earnings per share for the current year.

Institutional Trading of MP Materials

Several institutional investors have recently made changes to their positions in the stock. EMC Capital Management purchased a new position in shares of MP Materials in the 4th quarter worth $25,000. REAP Financial Group LLC purchased a new position in shares of MP Materials in the 4th quarter worth about $26,000. Toth Financial Advisory Corp raised its holdings in shares of MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of MP Materials in the 4th quarter valued at about $36,000. Finally, Markowski Investments acquired a new position in shares of MP Materials in the 2nd quarter valued at about $43,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

About MP Materials

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.