MP Materials (NYSE:MP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

MP Materials (NYSE:MP - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $18.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.10% from the company's previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a research report on Monday, July 7th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Robert W. Baird raised their price target on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. Canaccord Genuity Group raised their price target on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.11.

MP Materials Price Performance

NYSE:MP traded down $1.38 during trading hours on Monday, hitting $59.76. 4,365,742 shares of the stock were exchanged, compared to its average volume of 8,736,554. MP Materials has a 52-week low of $10.02 and a 52-week high of $65.05. The firm's fifty day moving average price is $33.46 and its 200 day moving average price is $26.99. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The company has a market cap of $9.77 billion, a P/E ratio of -91.94 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The company's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, equities research analysts anticipate that MP Materials will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of MP. Price T Rowe Associates Inc. MD boosted its holdings in shares of MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in MP Materials in the 1st quarter valued at approximately $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after buying an additional 1,257,282 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of MP Materials during the 4th quarter worth $14,886,000. Finally, Vanguard Group Inc. increased its stake in shares of MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after purchasing an additional 942,105 shares during the last quarter. Institutional investors own 52.55% of the company's stock.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.