MP Materials (NYSE:MP) Stock Price Up 1.2% - Time to Buy?

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) traded up 1.2% during mid-day trading on Wednesday . The company traded as high as $61.13 and last traded at $58.91. 18,886,430 shares traded hands during trading, an increase of 233% from the average session volume of 5,677,838 shares. The stock had previously closed at $58.22.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. reduced their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Jefferies Financial Group reissued a "hold" rating and set a $33.00 price target (up from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. Finally, BMO Capital Markets boosted their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.56.

MP Materials Price Performance

The company's fifty day moving average is $30.28 and its 200 day moving average is $25.77. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of -97.36 and a beta of 2.26. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LBP AM SA acquired a new stake in MP Materials in the second quarter valued at $683,000. Highline Wealth Partners LLC acquired a new stake in MP Materials in the second quarter valued at $25,000. State of Alaska Department of Revenue lifted its stake in MP Materials by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 71,960 shares of the company's stock valued at $2,394,000 after acquiring an additional 5,041 shares during the last quarter. StoneCrest Wealth Management Inc. acquired a new stake in MP Materials in the second quarter valued at $200,000. Finally, Ballentine Partners LLC acquired a new stake in MP Materials in the second quarter valued at $241,000. Institutional investors and hedge funds 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.