MP Materials (NYSE:MP) Hits New 52-Week High Following Analyst Upgrade

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) hit a new 52-week high during trading on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $20.00 to $69.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. MP Materials traded as high as $63.22 and last traded at $62.42, with a volume of 14651725 shares trading hands. The stock had previously closed at $60.26.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Robert W. Baird upped their price target on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. dropped their price target on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, Canaccord Genuity Group upped their price target on MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.56.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in MP Materials in the fourth quarter valued at about $6,284,000. Proficio Capital Partners LLC bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $399,000. GAMMA Investing LLC grew its stake in shares of MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after purchasing an additional 1,975 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in MP Materials in the fourth quarter valued at approximately $388,000. Finally, Invesco Ltd. lifted its holdings in MP Materials by 0.4% in the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after buying an additional 7,453 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Price Performance

The company's fifty day moving average is $30.28 and its two-hundred day moving average is $25.77. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of -96.11 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last issued 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). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The company had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. Equities research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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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