MP Materials (NYSE:MP) Stock Price Up 3.6% – Here’s Why

MP Materials Corp. (NYSE:MP)’s stock price was up 3.6% during trading on Tuesday. The stock traded as high as $48.65 and last traded at $48.5060. 4,308,899 shares traded hands during trading, a decline of 33% from the average session volume of 6,430,290 shares. The stock had previously closed at $46.84.

Analyst Upgrades and Downgrades

MP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Barclays dropped their price target on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Zacks Research cut MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Needham & Company LLC cut their price objective on MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

MP Materials Stock Down 1.8%

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 has a fifty day simple moving average of $51.67 and a two-hundred day simple moving average of $55.04. The firm has a market capitalization of $8.10 billion, a PE ratio of -134.26 and a beta of 1.98.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $108.49 million during 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 company’s quarterly revenue was up 89.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. Analysts forecast that MP Materials Corp. will post -0.17 EPS for the current fiscal year.

Institutional Trading of MP Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MP. Toth Financial Advisory Corp lifted its position in shares of MP Materials by 73.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in 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 lifted its stake in shares of MP Materials by 4.5% in the 2nd quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock valued at $318,000 after purchasing an additional 243 shares in the last quarter. NFSG Corp boosted its holdings in MP Materials by 5.0% in the 1st quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after acquiring an additional 255 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of MP Materials by 5.8% in 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 during 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 produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.