MP Materials (NYSE:MP) Stock Price Up 3.3% - What's Next?

Key Points

• MP Materials Corp. (NYSE:MP) shares rose 3.3% to a last traded price of $70.68, with a trading volume of approximately 11.3 million shares.
• The company reported a negative EPS of ($0.13) for the last quarter, exceeding analyst expectations, with revenue up 83.6% year-over-year at $57.39 million.
• Analyst ratings are generally positive, with an average rating of "Moderate Buy" and a consensus price target of $77.80 for MP Materials.

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) rose 3.3% on Friday . The stock traded as high as $72.59 and last traded at $70.68. Approximately 11,327,919 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 10,667,376 shares. The stock had previously closed at $68.45.

Analyst Ratings Changes

MP has been the topic of several research analyst reports. Benchmark reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 29th. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley set a $69.00 price objective on MP Materials in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Cowen reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MP Materials currently has an average rating of "Moderate Buy" and a consensus price target of $77.80.

MP Materials Stock Up 3.3%

The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The company has a market cap of $12.52 billion, a PE ratio of -112.19 and a beta of 2.32. The company has a fifty day moving average price of $71.85 and a 200 day moving average price of $48.56.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. MP Materials's revenue was up 83.6% on a year-over-year basis. As a group, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Miracle Mile Advisors LLC grew its position in MP Materials by 1.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company's stock worth $1,218,000 after acquiring an additional 188 shares during the last quarter. Wedmont Private Capital grew its position in MP Materials by 1.7% during the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company's stock worth $872,000 after acquiring an additional 195 shares during the last quarter. Cresset Asset Management LLC grew its position in MP Materials by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company's stock worth $713,000 after acquiring an additional 204 shares during the last quarter. Sound Income Strategies LLC grew its position in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company's stock worth $26,000 after acquiring an additional 294 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in MP Materials by 32.9% during the 2nd quarter. Harbour Investments Inc. now owns 1,220 shares of the company's stock worth $41,000 after acquiring an additional 302 shares during the last quarter. 52.55% of the stock is currently 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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