MP Materials (NYSE:MP) Sees Large Volume Increase After Analyst Upgrade

MP Materials Corp. (NYSE:MP - Get Free Report) shares saw an uptick in trading volume on Monday after JPMorgan Chase & Co. raised their price target on the stock from $18.00 to $64.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. 5,673,033 shares traded hands during mid-day trading, a decline of 6% from the previous session's volume of 6,056,041 shares.The stock last traded at $63.93 and had previously closed at $63.22.

MP has been the topic of several other research reports. 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 report on Friday, July 11th. Robert W. Baird increased their price objective on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Jefferies Financial Group reissued a "hold" rating and set a $33.00 price objective (up from $32.00) on shares of MP Materials in a report on Monday, July 7th. 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 report on Thursday, July 17th. Finally, Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.67.

Institutional Trading of MP Materials

Several hedge funds and other institutional investors have recently bought and sold shares of MP. QRG Capital Management Inc. acquired a new stake in shares of MP Materials in the 2nd quarter worth $221,000. Ameritas Advisory Services LLC acquired a new stake in MP Materials during the 2nd quarter worth about $205,000. Yeomans Consulting Group Inc. acquired a new stake in MP Materials during the 2nd quarter worth about $287,000. LBP AM SA acquired a new stake in MP Materials during the 2nd quarter worth about $683,000. Finally, Highline Wealth Partners LLC acquired a new stake in MP Materials during the 2nd quarter worth about $25,000. Institutional investors own 52.55% of the company's stock.

MP Materials Trading Up 2.0%

The stock has a 50-day simple moving average of $31.11 and a 200 day simple moving average of $26.23. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -92.56 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly 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 business had revenue of $60.81 million during 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%. MP Materials's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. As a group, equities research analysts predict that MP Materials Corp. will post -0.19 EPS 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.