MP Materials (NYSE:MP) Stock Price Up 2.1% – Still a Buy?
by Mitch Edgeman · The Markets DailyMP Materials Corp. (NYSE:MP – Get Free Report)’s share price shot up 2.1% during trading on Tuesday . The company traded as high as $51.34 and last traded at $51.0460. 5,581,364 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 6,506,888 shares. The stock had previously closed at $50.00.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on MP shares. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Barclays reduced their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Needham & Company LLC lowered their price target on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Morgan Stanley reiterated an “overweight” rating on shares of MP Materials in a report on Wednesday, August 19th. Finally, Zacks Research lowered MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.29.
Get Our Latest Analysis on MP Materials
MP Materials Trading Up 2.1%
The stock has a market cap of $9.09 billion, a price-to-earnings ratio of -150.13 and a beta of 1.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The company’s 50 day simple moving average is $50.98 and its two-hundred day simple moving average is $56.01.
MP Materials (NYSE:MP – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company’s revenue was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.13) EPS. Research analysts expect that MP Materials Corp. will post -0.12 EPS for the current fiscal year.
Institutional Trading of MP Materials
A number of institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp raised its stake in shares of MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of MP Materials by 3.7% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock worth $321,000 after buying an additional 240 shares during the period. Allworth Financial LP grew its holdings in shares of MP Materials by 4.5% during the second quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock worth $318,000 after buying an additional 243 shares in the last quarter. NFSG Corp grew its holdings in shares of MP Materials by 5.0% during the first quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after buying an additional 255 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of MP Materials by 5.8% during the first quarter. Parallel Advisors LLC now owns 4,697 shares of the company’s stock worth $227,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.
MP Materials Company Profile
MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass rare earth mine and processing facility in California. The site is one of the largest rare earth production facilities in the Western Hemisphere and produces rare earth concentrate, with an emphasis on neodymium-praseodymium (NdPr), materials used in high-performance permanent magnets.
The company is expanding its operations beyond mining and concentrate production into separated rare earth products and magnet manufacturing.