MP Materials (NYSE:MP) Trading 2.9% Higher - Time to Buy?

Key Points

• MP Materials' stock price increased by 2.9%, trading at $74.78, though trading volume decreased by 49% from its average daily volume.
• Equities analysts have set a moderate buy rating on MP Materials with an average target price of $60.63, while JPMorgan raised its price target significantly from $18.00 to $64.00.
• In its latest earnings report, MP Materials reported an 83.6% increase in revenue year-over-year, beating estimates with revenues of $57.39 million.

MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price was up 2.9% during trading on Tuesday . The company traded as high as $75.67 and last traded at $74.78. Approximately 4,663,029 shares traded hands during trading, a decline of 49% from the average daily volume of 9,176,239 shares. The stock had previously closed at $72.69.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Robert W. Baird lifted their price objective on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Cowen reissued a "buy" rating on shares of MP Materials in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, August 1st. Five 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 target price of $60.63.

MP Materials Stock Up 0.8%

The firm has a 50 day moving average price of $45.24 and a 200-day moving average price of $31.19. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of -116.20 and a beta of 2.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MP. Price T Rowe Associates Inc. MD lifted its position in MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after acquiring an additional 2,005,505 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of MP Materials during the 1st quarter worth $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MP Materials by 429.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after purchasing an additional 1,257,282 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in MP Materials in the 4th quarter valued at approximately $14,886,000. Finally, Vanguard Group Inc. raised its stake in shares of MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after acquiring an additional 942,105 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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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