MP Materials Corp. (NYSE:MP) Given Average Rating of "Hold" by Brokerages

Key Points

• MP Materials Corp. has received a consensus rating of "Moderate Buy" from nine brokerages, with four analysts recommending a hold and five a buy.
• The average twelve-month target price for MP Materials is $46.11, with recent upgrades from multiple analysts indicating a bullish outlook.
• Shares opened at $60.86 and have a market cap of $9.95 billion, with a notable 12-month high of $65.84.

MP Materials Corp. (NYSE:MP - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $49.56.

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price objective on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. 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 research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target 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. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a report on Thursday. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $33.00 target price (up from $32.00) on shares of MP Materials in a report on Monday, July 7th.

MP Materials Trading Up 0.7%

MP Materials stock traded up $0.42 during midday trading on Thursday, hitting $61.27. 9,599,057 shares of the stock were exchanged, compared to its average volume of 23,002,740. 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 stock's 50-day simple moving average is $37.56 and its 200 day simple moving average is $28.43. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $65.84. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -94.26 and a beta of 2.26.

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

Institutional Trading of MP Materials

A number of institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in shares of MP Materials during the second quarter worth approximately $25,000. AdvisorNet Financial Inc increased its stake in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after purchasing an additional 506 shares during the period. NBC Securities Inc. raised its holdings in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,199 shares during the last quarter. MAI Capital Management boosted its stake in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after buying an additional 800 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of MP Materials during the first quarter worth about $35,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.