MP Materials Corp. (NYSE:MP - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $58.22, but opened at $61.08. MP Materials shares last traded at $59.27, with a volume of 15,003,665 shares changing hands.
Analysts Set New Price Targets
A number of research analysts have recently commented on MP shares. Jefferies Financial Group reiterated a "hold" rating and set a $33.00 target price (up from $32.00) on shares of MP Materials in a research report on Monday, July 7th. BMO Capital Markets increased their target price on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Robert W. Baird boosted their target price on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.56.
Check Out Our Latest Stock Analysis on MP Materials
MP Materials Stock Up 4.5%
The company has a 50-day simple moving average of $30.28 and a 200 day simple moving average of $25.77. The company has a market cap of $10.29 billion, a P/E ratio of -96.80 and a beta of 2.26. 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 issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share 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 company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. During the same period in the previous year, the business earned ($0.04) EPS. MP Materials's revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.
Institutional Investors Weigh In On MP Materials
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its stake in MP Materials by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock valued at $412,000 after buying an additional 358 shares during the last quarter. JT Stratford LLC raised its stake in MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after buying an additional 424 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MP Materials by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after purchasing an additional 479 shares during the last quarter. CWM LLC grew its holdings in MP Materials by 16.5% during the first quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after acquiring an additional 505 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after acquiring an additional 506 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
About MP Materials
(
Get Free Report)
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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