MP Materials (NYSE:MP) Stock Rating Raised to Buy at Freedom Broker

MP Materials (NYSE:MP) was upgraded by equities research analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Briefing.com reports. The firm presently has a $51.00 price objective on the stock. Freedom Broker‘s price target would indicate a potential upside of 40.07% from the stock’s current price.

Several other research firms also recently commented on MP. Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. Zacks Research cut shares of MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. Canaccord Genuity Group reduced their target price on shares of MP Materials from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Monday. Barclays reduced their target price on shares of MP Materials from $65.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.50.

MP Materials Price Performance

Shares of NYSE MP traded down $1.34 during trading hours on Tuesday, reaching $36.41. 3,635,995 shares of the stock traded hands, compared to its average volume of 6,376,979. The company has a market capitalization of $6.48 billion, a P/E ratio of -165.50 and a beta of 2.05. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. MP Materials has a 52-week low of $31.90 and a 52-week high of $76.80. The company’s 50-day simple moving average is $45.27 and its two-hundred day simple moving average is $54.30.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $147.66 million during the quarter, compared to analyst estimates of $117.37 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. MP Materials’s revenue for the quarter was up 175.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts forecast that MP Materials will post -0.21 EPS for the current year.

Hedge Funds Weigh In On MP Materials

Several hedge funds and other institutional investors have recently modified their holdings of MP. Oak Thistle LLC bought a new stake in MP Materials during the second quarter worth about $1,543,000. Amundi grew its holdings in MP Materials by 260.2% in the first quarter. Amundi now owns 385,001 shares of the company’s stock worth $18,580,000 after purchasing an additional 278,126 shares during the period. NewEdge Advisors LLC grew its holdings in MP Materials by 135.8% in the second quarter. NewEdge Advisors LLC now owns 39,866 shares of the company’s stock worth $2,233,000 after purchasing an additional 22,958 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of MP Materials by 31.3% during the third quarter. Pinnacle Associates Ltd. now owns 463,306 shares of the company’s stock valued at $21,910,000 after purchasing an additional 110,437 shares in the last quarter. Finally, State Street Corp increased its stake in shares of MP Materials by 5.1% during the second quarter. State Street Corp now owns 7,773,746 shares of the company’s stock valued at $435,408,000 after purchasing an additional 376,519 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

Trending Headlines about MP Materials

Here are the key news stories impacting MP Materials this week:

• Positive Sentiment: MP reported third-quarter revenue of $147.7 million, up 176% year over year, and adjusted EPS of $0.04, beating estimates. Higher NdPr sales and pricing helped results. MP Q3 Earnings Beat Estimates on Higher NdPr Sales and Pricing
• Positive Sentiment: Management said customer demand is roughly 10 times planned capacity, with GM magnet shipments approaching. Jefferies also highlighted production growth and the magnet ramp-up after results. MP Q3 Earnings Call Highlights Jefferies highlights rare earth production growth and magnet ramp-up
• Neutral Sentiment: China extended its suspension of certain rare-earth export controls until January. That may ease near-term supply concerns, though it is a temporary reprieve ahead of planned U.S.-China talks. China extends rare-earth reprieve
• Negative Sentiment: Barclays cut its price target to $54 from $65, and Canaccord lowered its target to $70 from $82. Both firms retained positive ratings—Overweight and Buy, respectively—but the reductions may pressure near-term sentiment. Magnet-factory expansion is also increasing costs. Barclays lowers MP Materials price target Canaccord lowers price target

About MP Materials

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.