MP Materials (NYSE:MP) Now Covered by Analysts at Freedom Broker

Key Points

• Freedom Broker initiated coverage of MP Materials with a “hold” rating and a $57 price target, implying approximately 15.9% upside from the prior close.
• Despite mixed analyst views, MP Materials has a consensus “Moderate Buy” rating and an average price target of $76.58; 13 analysts rate it a Buy, while two rate it a Sell.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year, while matching expectations with an adjusted loss of $0.01 per share.

Equities researchers at Freedom Broker began coverage on shares of MP Materials (NYSE:MP - Get Free Report) in a research report issued on Wednesday, Benzinga reports. The firm set a "hold" rating and a $57.00 price target on the stock. Freedom Broker's target price points to a potential upside of 15.91% from the company's previous close.

A number of other equities research analysts have also recently commented on MP. Needham & Company LLC cut their target price on MP Materials from $81.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Morgan Stanley restated an "overweight" rating on shares of MP Materials in a report on Wednesday, August 19th. Jefferies Financial Group restated a "buy" rating on shares of MP Materials in a research note on Tuesday, September 8th. Wall Street Zen downgraded shares of MP Materials from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, DA Davidson reiterated a "buy" rating and set a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.58.

MP Materials Stock Up 0.0%

Shares of MP stock traded up $0.01 during midday trading on Wednesday, reaching $49.18. 762,983 shares of the stock were exchanged, compared to its average volume of 6,495,291. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. MP Materials has a 1 year low of $37.81 and a 1 year high of $100.25. The firm has a market cap of $8.76 billion, a PE ratio of -144.84 and a beta of 1.94. The company's 50 day moving average is $51.20 and its two-hundred day moving average is $56.35.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $108.49 million for the quarter, compared to analysts' expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The firm's revenue for the quarter was up 89.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) earnings per share. On average, equities research analysts predict that MP Materials will post -0.12 EPS for the current year.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in MP Materials in the 4th quarter valued at $82,531,000. Bank of New York Mellon Corp bought a new stake in shares of MP Materials in the 2nd quarter valued at about $65,230,000. Amundi raised its stake in MP Materials by 260.2% in the first quarter. Amundi now owns 385,001 shares of the company's stock worth $18,580,000 after buying an additional 278,126 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of MP Materials by 32.4% in the 1st quarter. Principal Financial Group Inc. now owns 919,083 shares of the company's stock worth $44,355,000 after acquiring an additional 225,009 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of MP Materials by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,544,743 shares of the company's stock worth $128,587,000 after purchasing an additional 197,375 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

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 is one of the largest rare earth production facilities in the Western Hemisphere and produces rare earth concentrate, with an emphasis on neodymium-praseodymium (NdPr), materials used in high-performance permanent magnets.

The company is expanding its operations beyond mining and concentrate production into separated rare earth products and magnet manufacturing.

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