Shares of MP Materials Corp. (NYSE:MP – Get Free Report) hit a new 52-week low on Wednesday. The company traded as low as $36.95 and last traded at $36.9540, with a volume of 1,040,041 shares trading hands. The stock had previously closed at $37.83.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research report on Tuesday, September 8th. Citigroup restated a “positive” rating on shares of MP Materials in a research report on Wednesday, July 15th. Freedom Broker initiated coverage on MP Materials in a research note on Wednesday, September 16th. They set a “hold” rating and a $57.00 target price on the stock. Barclays dropped their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, October 15th. One equities 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.92.
Read Our Latest Analysis on MP Materials
MP Materials Price Performance
The company’s 50-day simple moving average is $47.12 and its 200 day simple moving average is $54.93. The company has a market capitalization of $6.39 billion, a P/E ratio of -105.49 and a beta of 2.05. 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 – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $108.49 million for the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. MP Materials’s revenue for the quarter was up 89.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. As a group, sell-side analysts expect that MP Materials Corp. will post -0.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MP Materials
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp boosted its stake in MP Materials by 73.3% in the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Wedmont Private Capital raised its stake in MP Materials by 2.0% during the third quarter. Wedmont Private Capital now owns 11,866 shares of the company’s stock worth $547,000 after acquiring an additional 234 shares in the last quarter. Allworth Financial LP raised its stake in MP Materials by 4.5% during the second quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock worth $318,000 after acquiring an additional 243 shares in the last quarter. NFSG Corp lifted its holdings in shares of MP Materials by 5.0% in the first quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after acquiring an additional 255 shares during the last quarter. Finally, Putney Financial Group LLC lifted its holdings in shares of MP Materials by 4.4% in the third quarter. Putney Financial Group LLC now owns 6,123 shares of the company’s stock worth $290,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.
About MP Materials
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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