MP Materials Corp. (NYSE:MP – Get Free Report) was down 2.6% during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $80.00 to $65.00. Robert W. Baird currently has an outperform rating on the stock. MP Materials traded as low as $44.49 and last traded at $46.0510. Approximately 6,801,199 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 6,459,638 shares. The stock had previously closed at $47.29.
MP has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut their price target on MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Barclays lowered their price objective on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Zacks Research downgraded shares of MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Finally, DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.42.
Check Out Our Latest Analysis on MP Materials
Institutional Investors Weigh In On MP Materials
MP Materials Stock Performance
The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -135.44 and a beta of 1.94. The firm has a fifty day moving average of $51.15 and a 200 day moving average of $55.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56.
MP Materials (NYSE:MP – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $108.49 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 89.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) EPS. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.12 earnings per share for the current fiscal year.
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.
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