MP Materials (NYSE:MP) Sees Unusually-High Trading Volume - What's Next?

Key Points

• MP Materials Corp. experienced a significant trading volume increase, with 18,796,201 shares traded on Monday, up 87% from the previous session, while the stock price surged to $95.57 from $78.34.
• Analysts have mixed ratings on the stock, with a consensus rating of Moderate Buy and an average price target of $74.00, despite Weiss Ratings issuing a "sell (d-)" rating.
• Recent earnings reports showed that MP Materials generated $57.39 million in revenue for the quarter, surpassing analyst estimates, and reported earnings per share of ($0.13), beating expectations.

MP Materials Corp. (NYSE:MP - Get Free Report) shares saw strong trading volume on Monday . 18,796,201 shares changed hands during trading, an increase of 87% from the previous session's volume of 10,054,620 shares.The stock last traded at $95.57 and had previously closed at $78.34.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of MP Materials in a report on Thursday. They issued a "market perform" rating and a $76.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Wednesday, October 8th. Robert W. Baird upped their price objective on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Benchmark restated a "buy" rating on shares of MP Materials in a research report on Friday, August 29th. Finally, Morgan Stanley set a $69.00 price objective on MP Materials in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.00.

MP Materials Stock Up 22.8%

The stock has a market cap of $17.04 billion, a PE ratio of -152.70 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $69.91 and a 200-day moving average price of $45.24.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. During the same quarter last year, the firm posted ($0.17) EPS. The business's revenue was up 83.6% on a year-over-year basis. As a group, analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Activity

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MP. GAMMA Investing LLC raised its stake in MP Materials by 52.3% in the 1st 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. CX Institutional acquired a new stake in shares of MP Materials in the 1st quarter worth $79,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of MP Materials by 22.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,597 shares of the company's stock worth $307,000 after acquiring an additional 2,316 shares during the last quarter. Tcfg Wealth Management LLC acquired a new stake in shares of MP Materials in the 1st quarter worth $213,000. Finally, CENTRAL TRUST Co increased its stake in shares of MP Materials by 20.6% in the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after acquiring an additional 678 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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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