MP Materials Corp. (NYSE:MP) Stock Has Consensus Price Target of $71.92 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Seventeen analysts give MP Materials an average “Moderate Buy” rating, with 13 buys, one strong buy, one hold, and two sells. The consensus 12-month price target is $71.92.
• Institutional ownership is substantial: Institutional investors and hedge funds own 52.55% of the company, with several major investors recently increasing their positions or initiating new stakes.
• Shares have declined while revenue growth remained strong: MP opened at $38.31, near its 52-week low of $37.11, despite reporting 89% year-over-year revenue growth and quarterly revenue above analyst expectations. The company remains unprofitable, with analysts expecting a full-year loss of $0.20 per share.

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) have earned an average rating of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $71.92.

A number of equities research analysts have weighed in on MP shares. Citigroup reiterated a "positive" rating on shares of MP Materials in a research note on Wednesday, July 15th. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Thursday, October 15th. JPMorgan Chase & Co. cut their target price on shares of MP Materials from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Morgan Stanley cut their target price on shares of MP Materials from $73.00 to $66.00 and set an "overweight" rating on the stock in a report on Wednesday, October 7th. Finally, Robert W. Baird reduced their price target 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MP. Bank of New York Mellon Corp purchased a new stake in shares of MP Materials in the second quarter valued at approximately $65,230,000. State Street Corp grew its holdings in MP Materials by 5.1% during the second quarter. State Street Corp now owns 7,773,746 shares of the company's stock worth $435,408,000 after acquiring an additional 376,519 shares during the period. Amundi grew its holdings in MP Materials by 260.2% during the first quarter. Amundi now owns 385,001 shares of the company's stock worth $18,580,000 after acquiring an additional 278,126 shares during the period. Principal Financial Group Inc. raised its position in MP Materials by 32.4% in the first 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, Teamwork Financial Advisors LLC purchased a new position in MP Materials in the second quarter worth $10,648,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Down 0.6%

MP opened at $38.31 on Friday. MP Materials has a one year low of $37.11 and a one year high of $76.80. 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 market capitalization of $6.82 billion, a P/E ratio of -112.68 and a beta of 1.98. The business's 50-day simple moving average is $49.57 and its 200-day simple moving average is $54.22.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $108.49 million during 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 business's revenue was up 89.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. Analysts anticipate that MP Materials will post -0.20 EPS for the current year.

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.

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