MP Materials (NYSE:MP) Given New $65.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird lowered MP Materials’ price target from $80 to $65 while maintaining an “outperform” rating, implying approximately 37% upside from the reported $47.36 share price.
• Analyst sentiment remains mixed but generally positive: MP has a consensus “Moderate Buy” rating and an average price target of $75.42, despite ratings ranging from “Strong Buy” to “Sell.”
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year and above estimates, though it posted a $0.01-per-share loss and continues to operate with negative margins.

MP Materials (NYSE:MP - Get Free Report) had its target price lowered by investment analysts at Robert W. Baird from $80.00 to $65.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price points to a potential upside of 37.24% from the stock's current price.

A number of other equities research analysts have also weighed in on MP. Needham & Company LLC reduced their price objective on shares of MP Materials from $81.00 to $73.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Zacks Research downgraded MP Materials from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 26th. DA Davidson reaffirmed a "buy" rating and set a $82.00 price objective on shares of MP Materials in a research report on Monday, August 24th. Freedom Broker assumed coverage on MP Materials in a research report on Wednesday, September 16th. They set a "hold" rating and a $57.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MP Materials in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given 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 has an average rating of "Moderate Buy" and a consensus target price of $75.42.

MP Materials Stock Performance

Shares of MP opened at $47.36 on Thursday. MP Materials has a 1 year low of $37.81 and a 1 year high of $100.25. The stock has a market capitalization of $8.43 billion, a PE ratio of -139.29 and a beta of 1.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The stock has a 50-day simple moving average of $51.15 and a 200-day simple moving average of $55.41.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share 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 firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. The business's quarterly revenue was up 89.0% compared to the same quarter last year. On average, analysts predict that MP Materials will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently added to or reduced their stakes in MP. EMC Capital Management purchased a new position in shares of MP Materials during the 4th quarter worth approximately $25,000. REAP Financial Group LLC purchased a new position in MP Materials in the fourth quarter worth $26,000. Toth Financial Advisory Corp raised its position in MP Materials by 73.3% in the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company's stock worth $29,000 after acquiring an additional 220 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in MP Materials in the fourth quarter valued at $36,000. Finally, Markowski Investments acquired a new stake in MP Materials in the second quarter valued at $43,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

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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