MP Materials (NYSE:MP) Sets New 1-Year High - Still a Buy?

Key Points

• MP Materials reached a new 52-week high of $65.84 and currently trades at $62.47, showing significant activity with over 2.2 million shares exchanged.
• Analysts have set new target prices, with Deutsche Bank and Robert W. Baird increasing their targets to $69.00, while the consensus rating for the stock is a "Moderate Buy" with an average target price of $46.11.
• The company reported a revenue of $60.81 million for the last quarter, a 24.9% increase year-over-year, despite a negative earnings per share of ($0.12).

MP Materials Corp. (NYSE:MP - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $65.84 and last traded at $62.47, with a volume of 2263941 shares changing hands. The stock had previously closed at $64.11.

Analysts Set New Price Targets

MP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. Jefferies Financial Group reiterated a "hold" rating and set a $33.00 target price (up previously from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Finally, Robert W. Baird increased their target price on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Five equities research 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, MP Materials presently has a consensus rating of "Moderate Buy" and an average target price of $46.11.

MP Materials Price Performance

The firm has a market capitalization of $10.00 billion, a P/E ratio of -94.30 and a beta of 2.26. The business has a 50-day moving average of $35.94 and a 200 day moving average of $27.98. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. During the same period last year, the company posted ($0.04) earnings per share. MP Materials's revenue for the quarter was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

Several large investors have recently modified their holdings of MP. Highline Wealth Partners LLC bought a new stake in shares of MP Materials in the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc grew its position in shares of MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after acquiring an additional 506 shares during the period. NBC Securities Inc. grew its position in shares of MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,199 shares during the period. Harbour Investments Inc. boosted its holdings in MP Materials by 32.9% in the 2nd quarter. Harbour Investments Inc. now owns 1,220 shares of the company's stock worth $41,000 after buying an additional 302 shares during the period. Finally, MAI Capital Management boosted its holdings in MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after buying an additional 800 shares during the period. 52.55% of the stock is owned by institutional investors.

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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