MP Materials (NYSE:MP) Stock Moved Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded MP Materials from “sell” to “hold.” Overall analyst sentiment remains a “Moderate Buy,” with an average price target of $75.42.
• MP Materials shares opened at $46.96, while the stock’s 50-day and 200-day moving averages stood at $51.29 and $55.27, respectively. The company reported $108.49 million in quarterly revenue, up 89% year over year, but remained unprofitable.
• Institutional investors own approximately 52.55% of MP Materials. The company operates a California rare-earth mine and is expanding into rare-earth separation and NdFeB magnet manufacturing.

MP Materials (NYSE:MP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on MP. Freedom Broker initiated coverage on MP Materials in a research report on Wednesday, September 16th. They set a "hold" rating and a $57.00 price target on the stock. Citigroup reiterated a "positive" rating on shares of MP Materials in a report on Wednesday, July 15th. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Friday, July 17th. Jefferies Financial Group reissued a "buy" rating on shares of MP Materials in a research note on Tuesday, September 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of MP Materials in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.42.

MP Materials Trading Up 1.9%

Shares of NYSE MP opened at $46.96 on Friday. The firm's 50 day moving average price is $51.29 and its 200-day moving average price is $55.27. MP Materials has a 52-week low of $37.81 and a 52-week high of $100.25. 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 company has a market cap of $8.36 billion, a PE ratio of -138.12 and a beta of 1.98.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The business had revenue of $108.49 million during 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%. The firm's revenue was up 89.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, equities research analysts expect that MP Materials will post -0.17 EPS for the current fiscal year.

Institutional Trading of MP Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in MP. EMC Capital Management purchased a new stake in shares of MP Materials during the 4th quarter worth about $25,000. REAP Financial Group LLC bought a new stake in shares of MP Materials in the 4th quarter valued at approximately $26,000. Toth Financial Advisory Corp increased its holdings 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 buying an additional 220 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in MP Materials in the fourth quarter worth approximately $36,000. Finally, Markowski Investments bought a new position in MP Materials during the second quarter valued at approximately $43,000. 52.55% of the stock is currently owned by institutional investors.

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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