Robert W. Baird Issues Positive Forecast for MP Materials (NYSE:MP) Stock Price

MP Materials (NYSE:MP - Get Free Report) had its target price lifted by investment analysts at Robert W. Baird from $52.00 to $69.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 14.68% from the stock's current price.

A number of other research firms also recently commented on MP. Jefferies Financial Group reiterated a "hold" rating and set a $33.00 price objective (up from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Canaccord Genuity Group increased their target price on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus target price of $46.11.

MP Materials Price Performance

Shares of MP stock opened at $60.17 on Wednesday. The company has a market capitalization of $9.83 billion, a PE ratio of -92.56 and a beta of 2.26. The firm has a fifty day simple moving average of $31.11 and a 200-day simple moving average of $26.23. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. MP Materials has a twelve month low of $10.02 and a twelve month high of $65.05.

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

Institutional Trading of MP Materials

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after buying an additional 1,975 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in MP Materials in the 4th quarter valued at about $388,000. Invesco Ltd. grew its position in MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after buying an additional 7,453 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in MP Materials in the 1st quarter valued at about $213,000. Finally, Sei Investments Co. bought a new position in MP Materials in the 4th quarter valued at about $156,000. Institutional investors and hedge funds 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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