MP Materials Corp. (NYSE:MP – Get Free Report) shares traded up 9.2% on Tuesday. The stock traded as high as $41.05 and last traded at $40.9140. 6,563,471 shares were traded during trading, an increase of 3% from the average session volume of 6,361,749 shares. The stock had previously closed at $37.47.
Wall Street Analyst Weigh In
A number of research firms have recently commented on MP. Robert W. Baird cut their price objective on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, October 1st. Citigroup reaffirmed a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Barclays reduced their target price on 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 restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Monday, August 24th. Finally, Freedom Broker started coverage on MP Materials in a research report on Wednesday, September 16th. They set a “hold” rating and a $57.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.92.
View Our Latest Stock Analysis on MP
MP Materials Trading Up 9.2%
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 stock’s fifty day moving average price is $49.23 and its two-hundred day moving average price is $55.66. The stock has a market capitalization of $7.29 billion, a P/E ratio of -120.33 and a beta of 1.98.
MP Materials (NYSE:MP – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. During the same quarter last year, the company earned ($0.13) EPS. The firm’s revenue was up 89.0% compared to the same quarter last year. Equities research analysts forecast that MP Materials Corp. will post -0.20 EPS for the current year.
Institutional Investors Weigh In On MP Materials
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toth Financial Advisory Corp increased 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 worth $29,000 after purchasing an additional 220 shares during the period. Mather Group LLC. boosted its stake in shares of MP Materials by 390.6% during 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 period. Markowski Investments bought a new position in shares of MP Materials in the second quarter worth approximately $43,000. MADDEN SECURITIES Corp bought a new position in shares of MP Materials in the third quarter worth approximately $46,000. Finally, Archer Investment Corp grew its holdings in shares of MP Materials by 990.1% in the first quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock worth $53,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors 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.
Further Reading
- Five stocks we like better than MP Materials
- Coca-Cola Stock Is Everything AI Isn’t—And That’s Its Biggest Strength
- Apple’s Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
- Netflix Is Making Big Changes, But Can It Fix What’s Really Hurting Growth?
- Charging Ahead: Solid Power’s Pilot Line Leaves the Lab
Receive News & Ratings for MP Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MP Materials and related companies with MarketBeat.com's FREE daily email newsletter.
