MP Materials (NYSE:MP) Sees Strong Trading Volume After Analyst Upgrade

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) saw strong trading volume on Monday 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. 7,299,506 shares were traded during mid-day trading, an increase of 38% from the previous session's volume of 5,278,447 shares.The stock last traded at $48.15 and had previously closed at $45.11.

A number of other research analysts also recently issued reports on MP. Robert W. Baird boosted 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. Jefferies Financial Group restated a "hold" rating and set a $33.00 target price (up previously from $32.00) on shares of MP Materials in a report on Monday, July 7th. BMO Capital Markets lifted their price target 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. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.56.

Hedge Funds Weigh In On MP Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of MP Materials during the first quarter valued at approximately $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MP Materials by 429.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after purchasing an additional 1,257,282 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of MP Materials in the 4th quarter worth approximately $14,886,000. Finally, Vanguard Group Inc. grew its stake in shares of MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after buying an additional 942,105 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Trading Up 4.4%

The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. The company has a market cap of $9.99 billion, a P/E ratio of -91.99 and a beta of 2.26. The stock has a 50-day moving average of $29.55 and a two-hundred day moving average of $25.46.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $64.74 million. During the same period in the prior year, the company posted ($0.04) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. On average, equities research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current 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.