MP Materials (NYSE:MP) Sets New 1-Year High - What's Next?

Key Points

• MP Materials Corp. has reached a new 52-week high at $67.40 during trading, with the stock closing at $65.51 and a significant trading volume of over 14 million shares.
• Recent analyst reports have upgraded MP Materials' target prices, with estimates ranging from $55.00 to $80.00, reflecting a positive outlook for the stock.
• The company's most recent quarterly earnings report showed a revenue of $60.81 million, which was below analyst estimates, but represented a 24.9% year-over-year increase.

MP Materials Corp. (NYSE:MP - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $67.40 and last traded at $65.51, with a volume of 14404580 shares. The stock had previously closed at $63.69.

Analyst Upgrades and Downgrades

MP has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Robert W. Baird lifted 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. Deutsche Bank Aktiengesellschaft lifted 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. Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lifted 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Hold" and an average price target of $57.88.

MP Materials Stock Up 2.9%

The stock has a 50 day moving average of $40.18 and a 200-day moving average of $29.45. The firm has a market capitalization of $10.71 billion, a P/E ratio of -100.78 and a beta of 2.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $64.74 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. Research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC purchased a new position in MP Materials during the 2nd quarter valued at about $25,000. AdvisorNet Financial Inc grew its holdings in 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 buying an additional 506 shares in the last quarter. Spire Wealth Management grew its holdings in shares of MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company's stock worth $34,000 after purchasing an additional 651 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of MP Materials by 32.9% during the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company's stock worth $41,000 after purchasing an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

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.

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