MP Materials (NYSE:MP) Given a $65.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has initiated coverage on MP Materials (NYSE:MP) with an equal weight rating and a price target of $65, signaling a potential upside of 6.8% from its current price.
• Other analysts have varied opinions, with Robert W. Baird increasing their target to $69 and Jefferies maintaining a "hold" rating with a target of $33, indicating mixed sentiment in the market.
• Currently, MP Materials holds an average rating of "Hold" among analysts, with a significant portion of its stock (52.55%) owned by institutional investors.

MP Materials (NYSE:MP - Get Free Report) received a $65.00 price target from equities research analysts at Morgan Stanley in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 1.73% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Robert W. Baird upped their target price on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Canaccord Genuity Group upped their price target on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.78.

MP Materials Trading Up 3.9%

Shares of MP traded up $2.39 during mid-day trading on Thursday, reaching $63.89. 2,531,610 shares of the company's stock traded hands, compared to its average volume of 8,771,629. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The stock's 50-day moving average is $38.38 and its two-hundred day moving average is $28.72. MP Materials has a 12 month low of $10.02 and a 12 month high of $65.84. The stock has a market cap of $10.45 billion, a P/E ratio of -97.30 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. MP Materials's revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. Research analysts forecast that MP Materials will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in MP Materials by 7.4% in 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MP Materials by 44.3% in the 4th 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 during the period. Invesco Ltd. raised its stake in MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock worth $64,811,000 after acquiring an additional 536,522 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock worth $34,433,000 after acquiring an additional 176,121 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in MP Materials by 73.7% during the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company's stock valued at $40,455,000 after purchasing an additional 703,042 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

About MP Materials

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.