MP Materials (NYSE:MP) Stock Jumps 1.2% – What’s Next?

MP Materials Corp. (NYSE:MP – Get Free Report)’s share price traded up 1.2% during trading on Wednesday. The company traded as high as $39.86 and last traded at $39.5120. Approximately 2,829,844 shares changed hands during trading, a decline of 56% from the average session volume of 6,380,240 shares. The stock had previously closed at $39.05.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MP. Citigroup reaffirmed a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Morgan Stanley cut their price objective on MP Materials from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Barclays dropped their price target on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Monday, August 24th. Finally, Zacks Research downgraded MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average price target of $71.92.

Get Our Latest Stock Analysis on MP

MP Materials Trading Up 1.2%

The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $50.62 and a 200 day moving average price of $54.49. The firm has a market cap of $7.04 billion, a PE ratio of -116.21 and a beta of 1.98.

MP Materials (NYSE:MP – Get Free Report) last issued 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). 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 quarter last year, the company posted ($0.13) earnings per share. The business’s quarterly revenue was up 89.0% compared to the same quarter last year. Analysts forecast that MP Materials Corp. will post -0.20 EPS for the current year.

Institutional Trading of MP Materials

Several hedge funds have recently made changes to their positions in MP. Toth Financial Advisory Corp grew its stake in MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Mather Group LLC. increased its stake in MP Materials by 390.6% in the third quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after purchasing an additional 543 shares during the last quarter. Markowski Investments acquired a new position in shares of MP Materials during the 2nd quarter valued at about $43,000. Archer Investment Corp grew its stake in shares of MP Materials by 990.1% during the 1st quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock valued at $53,000 after buying an additional 1,000 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in shares of MP Materials in the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

About MP Materials

(Get Free Report)

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.

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