MP Materials (NYSE:MP) Shares Up 2.5% - Here's What Happened

Key Points

• MP Materials Corp. saw its stock price increase by 2.5% to $63.64 during mid-day trading, although trading volume was down by 62% compared to the average.
• Equities analysts have mixed views on the stock, with target price upgrades from firms like Canaccord Genuity (to $55.00) and JPMorgan (to $64.00), while the overall consensus rating is a "Moderate Buy" with a target price of $46.11.
• Despite a year-over-year revenue increase of 24.9%, the company reported a loss of $0.12 EPS for the last quarter, missing analysts' estimates and holding a negative net margin of 48.41%.

MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price rose 2.5% during mid-day trading on Monday . The company traded as high as $63.38 and last traded at $63.64. Approximately 3,347,012 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 8,734,333 shares. The stock had previously closed at $62.08.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a report on Monday, July 7th. Canaccord Genuity Group upped their target price on MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upped their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.11.

MP Materials Trading Up 1.9%

The company has a 50 day simple moving average of $35.08 and a 200 day simple moving average of $27.67. The stock has a market capitalization of $10.34 billion, a PE ratio of -97.19 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 released its quarterly earnings results 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). The firm had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm's revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. Analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new stake in shares of MP Materials in the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc lifted 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. NBC Securities Inc. raised its position in 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 purchasing an additional 1,199 shares in the last quarter. MAI Capital Management grew its stake in MP Materials by 132.7% during 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 last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of MP Materials in the 1st quarter valued at about $35,000. 52.55% of the stock is owned by hedge funds and other 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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