MP Materials (NYSE:MP - Free Report) had its price objective boosted by Canaccord Genuity Group from $27.00 to $55.00 in a research note released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.
A number of other equities research analysts have also weighed in on MP. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $23.00 to $34.00 in a report on Thursday, June 5th. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Robert W. Baird lifted their price objective on shares of MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a report on Thursday, March 20th. Finally, DA Davidson lifted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.28.
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MP Materials Stock Performance
MP traded up $3.49 during trading on Friday, hitting $48.60. The company's stock had a trading volume of 23,411,877 shares, compared to its average volume of 5,337,477. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. MP Materials has a one year low of $10.02 and a one year high of $50.98. The firm has a market cap of $7.94 billion, a PE ratio of -74.77 and a beta of 2.26. The business's 50 day simple moving average is $28.18 and its 200-day simple moving average is $25.00.
MP Materials (NYSE:MP - Get Free Report) last posted 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 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%. The business's revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, sell-side analysts predict that MP Materials will post -0.19 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew 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 worth $101,986,000 after buying an additional 2,005,505 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of MP Materials in the 1st quarter worth approximately $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 worth $37,839,000 after buying an additional 1,257,282 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of MP Materials in the 4th quarter worth approximately $14,886,000. Finally, Vanguard Group Inc. grew its position in 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. Hedge funds and other institutional investors own 52.55% of the company's stock.
About MP Materials
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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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