Shares of MP Materials Corp. (NYSE:MP – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $75.42.
A number of equities research analysts have issued reports on MP shares. JPMorgan Chase & Co. reduced their price target on MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research report on Tuesday, September 8th. Morgan Stanley restated an “overweight” rating on shares of MP Materials in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Freedom Broker started coverage on shares of MP Materials in a research note on Wednesday, September 16th. They issued a “hold” rating and a $57.00 price target for the company.
View Our Latest Analysis on MP
MP Materials Stock Performance
MP Materials (NYSE:MP – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company’s revenue was up 89.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, research analysts predict that MP Materials will post -0.17 EPS for the current fiscal year.
Hedge Funds Weigh In On MP Materials
Institutional investors and hedge funds have recently modified their holdings of the company. EMC Capital Management acquired a new stake in MP Materials in the fourth quarter valued at $25,000. REAP Financial Group LLC acquired a new position in shares of MP Materials during the 4th quarter worth about $26,000. Toth Financial Advisory Corp increased 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 valued at $29,000 after acquiring an additional 220 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of MP Materials in the 4th quarter valued at about $36,000. Finally, Markowski Investments acquired a new stake in shares of MP Materials during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 52.55% of the company’s stock.
MP Materials Company Profile
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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