MP Materials (NYSE:MP) Receives "Buy" Rating from Benchmark

MP Materials (NYSE:MP - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research report issued on Friday, Benzinga reports. They presently have a $30.00 target price on the stock. Benchmark's target price would suggest a potential upside of 94.81% from the company's previous close.

Several other equities research analysts have also commented on MP. Canaccord Genuity Group dropped their price target on shares of MP Materials from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, March 13th. Morgan Stanley lowered shares of MP Materials from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Jefferies Financial Group lowered their price objective on shares of MP Materials from $36.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut shares of MP Materials from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $20.00 to $16.00 in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.64.

MP Materials Trading Down 3.5 %

MP traded down $0.56 on Friday, reaching $15.40. 4,721,194 shares of the company's stock were exchanged, compared to its average volume of 3,533,054. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 118.55, a PEG ratio of 7.58 and a beta of 2.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53. The company's 50 day moving average is $15.24 and its 200-day moving average is $16.37.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The company had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. Equities analysts predict that MP Materials will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama raised its holdings in shares of MP Materials by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 180,391 shares of the company's stock valued at $3,581,000 after purchasing an additional 723 shares in the last quarter. CWM LLC raised its holdings in shares of MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company's stock valued at $33,000 after purchasing an additional 766 shares in the last quarter. Amalgamated Bank raised its holdings in shares of MP Materials by 1.0% during the 4th quarter. Amalgamated Bank now owns 84,408 shares of the company's stock valued at $1,675,000 after purchasing an additional 798 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of MP Materials by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the company's stock valued at $506,000 after purchasing an additional 800 shares in the last quarter. Finally, Mirador Capital Partners LP raised its holdings in shares of MP Materials by 5.3% during the 4th quarter. Mirador Capital Partners LP now owns 17,142 shares of the company's stock valued at $340,000 after purchasing an additional 863 shares in 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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