MP Materials (NYSE:MP) Stock Price Up 6% – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC decreased their price target on MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. Citigroup reaffirmed a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Zacks Research lowered shares of MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and a consensus price target of $76.58.

MP Materials Trading Up 6.0%

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 market capitalization of $8.92 billion, a P/E ratio of -147.32 and a beta of 1.94. The firm has a 50 day moving average price of $50.97 and a two-hundred day moving average price of $56.09.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. MP Materials’s revenue for the quarter was up 89.0% compared to the same quarter last year. On average, equities research analysts expect that MP Materials Corp. will post -0.12 EPS for the current fiscal year.

Institutional Trading of MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of MP Materials during the fourth quarter valued at $82,531,000. Bank of New York Mellon Corp purchased a new stake in MP Materials in the 2nd quarter worth approximately $65,230,000. Amundi boosted its stake in shares of MP Materials by 260.2% during the 1st quarter. Amundi now owns 385,001 shares of the company’s stock valued at $18,580,000 after buying an additional 278,126 shares during the period. Principal Financial Group Inc. grew its holdings in shares of MP Materials by 32.4% during the 1st quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock valued at $44,355,000 after acquiring an additional 225,009 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of MP Materials by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 2,544,743 shares of the company’s stock worth $128,587,000 after acquiring an additional 197,375 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 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.