MP Materials (NYSE:MP) Shares Up 1.7% - What's Next?

Key Points

• MP Materials shares rose 1.7% to about $55.46, with trading volume 16% below the average session volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $78.21 price target, although several firms recently lowered their targets and Wall Street Zen downgraded the stock to “Sell.”
• The company matched earnings expectations at a loss of $0.01 per share while revenue reached $108.49 million, up 89% year over year; institutional investors own 52.55% of the stock.

MP Materials Corp. (NYSE:MP - Get Free Report) traded up 1.7% on Tuesday . The stock traded as high as $57.31 and last traded at $55.4610. 5,544,557 shares were traded during trading, a decline of 16% from the average session volume of 6,573,594 shares. The stock had previously closed at $54.53.

Analyst Ratings Changes

Several research analysts have recently commented on MP shares. Citigroup reissued a "positive" rating on shares of MP Materials in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft cut their price objective on MP Materials from $70.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, July 29th. Morgan Stanley reissued an "overweight" rating on shares of MP Materials in a research note on Wednesday, August 19th. Finally, Wall Street Zen cut shares of MP Materials from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.21.

MP Materials Stock Up 1.7%

The company has a market capitalization of $9.88 billion, a P/E ratio of -163.12 and a beta of 1.94. The firm's 50 day moving average price is $51.38 and its two-hundred day moving average price is $56.58. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The business had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The firm's revenue for the quarter was up 89.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities research analysts forecast that MP Materials Corp. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in MP Materials by 26.5% in the first quarter. Royal Bank of Canada now owns 234,185 shares of the company's stock valued at $5,716,000 after acquiring an additional 49,052 shares during the period. AQR Capital Management LLC purchased a new position in MP Materials during the 1st quarter valued at about $215,000. Integrated Wealth Concepts LLC purchased a new stake in MP Materials in the first quarter worth about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after acquiring an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company's stock worth $4,734,000 after acquiring an additional 51,348 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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