MP Materials (NYSE:MP) Trading Up 5.7% - Time to Buy?

Key Points

• MP Materials Corp. saw a **5.7% increase** in its stock price, trading at **$71.78** on Monday, although the trading volume decreased by **45%** compared to its average.
• Analyst reports have been generally positive, with **five analysts** issuing a buy rating and a consensus price target of **$60.63**, reflecting optimism about the company's future prospects.
• In its latest earnings report, MP Materials beat expectations with a revenue of **$57.39 million**, marking an **83.6% increase** year-over-year, despite posting a negative EPS of **($0.13)**.

MP Materials Corp. (NYSE:MP - Get Free Report) was up 5.7% during mid-day trading on Monday . The company traded as high as $72.23 and last traded at $71.78. Approximately 5,120,401 shares changed hands during trading, a decline of 45% from the average daily volume of 9,279,247 shares. The stock had previously closed at $67.88.

Analyst Ratings Changes

MP has been the topic of several analyst reports. Cowen reaffirmed a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday, August 1st. Cfra Research raised MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.63.

MP Materials Trading Up 6.4%

The company's fifty day moving average is $53.43 and its two-hundred day moving average is $34.31. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of -114.57 and a beta of 2.30.

MP Materials (NYSE:MP - Get Free Report) last announced 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. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the prior year, the firm posted ($0.17) EPS. The company's quarterly revenue was up 83.6% compared to the same quarter last year. On average, research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Institutional Trading of MP Materials

A number of institutional investors have recently bought and sold shares of MP. Highline Wealth Partners LLC purchased a new position in shares of MP Materials in the 2nd quarter valued at about $25,000. AdvisorNet Financial Inc boosted its holdings in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after purchasing an additional 506 shares in the last quarter. NBC Securities Inc. increased its stake in MP Materials by 119,900.0% in the first 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 during the last quarter. MAI Capital Management raised its holdings in MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after purchasing an additional 800 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company's stock worth $34,000 after buying an additional 651 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.