MP Materials Corp. (NYSE:MP) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• MP Materials Corp. has received a consensus recommendation of "Moderate Buy" from ten analysts, with an average 12-month target price of $66.8750.
• In its latest earnings report, MP Materials posted $57.39 million in revenue, surpassing consensus estimates and marking an 83.6% year-over-year increase.
• MP stock has seen substantial price action, with a fifty-two week low of $13.45 and high of $82.50, currently trading around $72.07.

MP Materials Corp. (NYSE:MP - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $66.8750.

MP has been the topic of a number of research analyst reports. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson upped their target price on MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Benchmark reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 29th.

MP Materials Stock Up 7.9%

MP stock opened at $72.07 on Friday. MP Materials has a fifty-two week low of $13.45 and a fifty-two week high of $82.50. The business's 50 day moving average price is $65.83 and its two-hundred day moving average price is $39.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of -114.40 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The business's revenue for the quarter was up 83.6% on a year-over-year basis. As a group, analysts forecast that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MP Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cresset Asset Management LLC lifted its position in MP Materials by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company's stock valued at $713,000 after acquiring an additional 204 shares in the last quarter. Harbour Investments Inc. lifted its position in MP Materials by 32.9% in the 2nd quarter. Harbour Investments Inc. now owns 1,220 shares of the company's stock valued at $41,000 after acquiring an additional 302 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in MP Materials by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock valued at $412,000 after acquiring an additional 358 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in MP Materials by 40.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company's stock valued at $47,000 after acquiring an additional 400 shares in the last quarter. Finally, JT Stratford LLC lifted its position in MP Materials by 0.7% in the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after acquiring an additional 424 shares in the last quarter. 52.55% of the stock is owned by 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.

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