MP Materials Corp. (NYSE:MP) Stock Has Average Target Price of $71.92 According to Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $71.92.

MP has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. Zacks Research cut shares of MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a report on Monday, August 24th. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, October 15th.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 acquiring an additional 220 shares during the period. Mather Group LLC. lifted its holdings in shares of MP Materials by 390.6% during the 3rd quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after acquiring an additional 543 shares in the last quarter. Markowski Investments acquired a new position in shares of MP Materials during the 2nd quarter valued at $43,000. Archer Investment Corp lifted its holdings in shares of MP Materials by 990.1% during the 1st quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock valued at $53,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in MP Materials during the 1st quarter worth $64,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Price Performance

MP stock opened at $37.38 on Friday. MP Materials has a 1 year low of $37.11 and a 1 year high of $76.80. The firm has a market cap of $6.66 billion, a P/E ratio of -109.93 and a beta of 1.98. The stock’s 50 day moving average price is $49.23 and its 200 day moving average price is $55.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates 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 revenue was up 89.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share. On average, sell-side analysts expect that MP Materials will post -0.20 earnings per share for the current fiscal year.

About MP Materials

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.