MP Materials (NYSE:MP) Upgraded to "Hold" at Wall Street Zen

Key Points

• MP Materials was upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more cautious approach to the company's stock valuation.
• Multiple other analysts have shown increased confidence in the company, with Morgan Stanley and Canaccord Genuity Group raising their price targets significantly.
• The company reported a quarterly loss of ($0.12) EPS, missing estimates, but revenues showed a year-over-year increase of 24.9%.

MP Materials (NYSE:MP - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

MP has been the topic of a number of other research reports. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. Canaccord Genuity Group increased their price target on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Robert W. Baird increased their price target on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased 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. Finally, Jefferies Financial Group reissued a "hold" rating and set a $33.00 price target (up previously from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, MP Materials currently has an average rating of "Moderate Buy" and an average target price of $46.11.

MP Materials Stock Performance

MP opened at $62.14 on Friday. The stock has a market cap of $10.16 billion, a P/E ratio of -95.60 and a beta of 2.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The stock's 50 day simple moving average is $35.08 and its 200 day simple moving average is $27.56. MP Materials has a 1-year low of $10.02 and a 1-year high of $65.05.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business's revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. As a group, equities analysts anticipate that MP Materials will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Several large investors have recently modified their holdings of MP. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 2,005,505 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of MP Materials during the first quarter worth about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MP Materials by 429.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock worth $37,839,000 after acquiring an additional 1,257,282 shares during the last quarter. BNP Paribas Financial Markets bought a new position in MP Materials in the fourth quarter worth about $14,886,000. Finally, Vanguard Group Inc. lifted its holdings in MP Materials by 7.4% in the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after acquiring an additional 942,105 shares during the last quarter. Institutional investors 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.

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