MP Materials (NYSE:MP) Rating Increased to Buy at Jefferies Financial Group

Key Points

• MP Materials was upgraded from a "hold" rating to a "buy" rating by Jefferies Financial Group, with a target price of $80.00, indicating a potential upside of 30.57% from its current price.
• Various analysts have recently issued positive ratings and price target increases for MP Materials, with a consensus rating of "Moderate Buy" and an average price target of $54.78.
• The company reported a quarterly loss of ($0.12) earnings per share, missing estimates while revenues increased by 24.9% compared to the previous year.

MP Materials (NYSE:MP - Get Free Report) was upgraded by stock analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a $80.00 price target on the stock. Jefferies Financial Group's target price would indicate a potential upside of 25.49% from the stock's current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group raised their price target on MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price target on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley set a $65.00 price target on MP Materials and gave the company an "equal weight" rating in a research note on Thursday. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and an average price target of $54.78.

MP Materials Stock Up 3.7%

Shares of NYSE:MP traded up $2.25 during mid-day trading on Friday, reaching $63.75. 15,435,347 shares of the stock were exchanged, compared to its average volume of 23,291,534. 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 company has a market cap of $10.42 billion, a P/E ratio of -98.08 and a beta of 2.29. MP Materials has a one year low of $10.02 and a one year high of $65.84. The stock's 50 day simple moving average is $39.26 and its 200-day simple moving average is $29.03.

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 firm had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. As a group, equities research analysts predict that MP Materials will post -0.19 EPS for the current year.

Institutional Trading of MP Materials

Hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC acquired a new stake in MP Materials during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc lifted its holdings in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after purchasing an additional 506 shares during the last quarter. NBC Securities Inc. lifted its holdings in MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares during the last quarter. MAI Capital Management lifted its holdings in MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MP Materials during the 1st quarter worth approximately $35,000. 52.55% of the stock is owned by institutional investors and hedge funds.

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.