MP Materials (NYSE:MP) Upgraded at Cfra Research

Key Points

• MP Materials has received a favorable upgrade to a "moderate buy" rating by Cfra Research, indicating positive outlook from analysts.
• Robert W. Baird increased the price target for MP Materials from $52.00 to $69.00, while Jefferies Financial Group set a new target of $80.00, reflecting strong analyst confidence.
• The stock has shown significant growth, achieving a year-on-year revenue increase of 83.6% and currently trading at $75.37 with a market capitalization of $12.32 billion.

Cfra Research upgraded shares of MP Materials (NYSE:MP - Free Report) to a moderate buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on MP. Canaccord Genuity Group boosted their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, August 1st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Stock Performance

MP stock traded up $1.27 during midday trading on Monday, hitting $76.67. 11,156,335 shares of the stock traded hands, compared to its average volume of 16,360,357. MP Materials has a 1-year low of $11.87 and a 1-year high of $82.50. 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 stock's fifty day simple moving average is $48.33 and its 200-day simple moving average is $32.17. The firm has a market cap of $12.53 billion, a P/E ratio of -121.70 and a beta of 2.30.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share 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 during the quarter, compared to analysts' expectations of $44.84 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The firm's revenue for the quarter was up 83.6% on a year-over-year basis. On average, analysts expect that MP Materials will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the company. Cresset Asset Management LLC boosted its position in shares of 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 in the last quarter. 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 purchasing an additional 302 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in MP Materials by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock worth $412,000 after purchasing an additional 358 shares during the last quarter. JT Stratford LLC grew its position in MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after purchasing an additional 424 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in MP Materials by 3.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company's stock worth $413,000 after purchasing an additional 458 shares during the last quarter. 52.55% of the stock is currently 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.