MP Materials (NYSE:MP) Stock Price Up 6% – Still a Buy?

Shares of MP Materials Corp. (NYSE:MP) traded up 6% during trading on Monday . The stock traded as high as $50.65 and last traded at $50.09. 5,277,771 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 6,507,746 shares. The stock had previously closed at $47.26.

Analyst Ratings Changes

Several equities research analysts have issued reports on MP shares. Morgan Stanley reissued an “overweight” rating on shares of MP Materials in a report on Wednesday, August 19th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Monday, August 24th. Needham & Company LLC dropped their price target on shares of 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, Jefferies Financial Group reaffirmed a “buy” rating on shares of MP Materials in a report on Tuesday, September 8th. One equities research 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 given a Sell rating to the company. According to MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus price target of $76.29.

MP Materials Stock Down 2.5%

The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of -145.93 and a beta of 1.94. The firm has a fifty day moving average price of $50.98 and a 200 day moving average price of $55.93. 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) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $108.49 million during the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business’s revenue was up 89.0% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. Sell-side analysts anticipate that MP Materials Corp. will post -0.12 EPS for the current fiscal year.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp boosted its holdings in shares of MP Materials by 73.3% in the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in MP Materials by 3.7% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock worth $321,000 after purchasing an additional 240 shares in the last quarter. Allworth Financial LP boosted its stake in MP Materials by 4.5% in the 2nd quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock worth $318,000 after purchasing an additional 243 shares during the period. NFSG Corp grew its holdings in MP Materials by 5.0% during the 1st quarter. NFSG Corp now owns 5,387 shares of the company’s stock valued at $260,000 after buying an additional 255 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in MP Materials by 5.8% during the 1st quarter. Parallel Advisors LLC now owns 4,697 shares of the company’s stock valued at $227,000 after buying an additional 259 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

About MP Materials

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.