Wall Street Zen Upgrades MP Materials (NYSE:MP) to “Hold”

MP Materials (NYSE:MP) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Morgan Stanley reissued an “overweight” rating on shares of MP Materials in a report on Wednesday, August 19th. Freedom Broker started coverage on MP Materials in a research note on Wednesday, September 16th. They issued a “hold” rating and a $57.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price 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. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of MP Materials in a research note on Monday, August 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average price target of $75.42.

MP Materials Stock Down 0.0%

NYSE MP opened at $46.96 on Friday. 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 firm has a 50-day simple moving average of $51.29 and a 200 day simple moving average of $55.24. MP Materials has a twelve month low of $37.81 and a twelve month high of $100.25. The stock has a market cap of $8.36 billion, a PE ratio of -138.12 and a beta of 1.98.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company’s quarterly revenue was up 89.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, research analysts forecast that MP Materials will post -0.17 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Institutional investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new position in shares of MP Materials during the 2nd quarter worth approximately $1,543,000. Amundi grew its position in MP Materials by 260.2% in the first quarter. Amundi now owns 385,001 shares of the company’s stock valued at $18,580,000 after acquiring an additional 278,126 shares during the period. Myriad Asset Management Advisors LLC bought a new stake in MP Materials in the fourth quarter valued at $1,229,000. NewEdge Advisors LLC raised its stake in MP Materials by 135.8% during the second quarter. NewEdge Advisors LLC now owns 39,866 shares of the company’s stock worth $2,233,000 after acquiring an additional 22,958 shares in the last quarter. Finally, WMS Group LLC acquired a new position in MP Materials during the fourth quarter worth $557,000. 52.55% of the stock is owned by institutional investors and hedge funds.

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.