MP Materials Corp. (NYSE:MP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $25.19.

MP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. JPMorgan Chase & Co. dropped their target price on MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Canaccord Genuity Group dropped their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Morgan Stanley cut MP Materials from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their target price on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th.

MP Materials Stock Down 0.9 %

NYSE:MP opened at $16.35 on Friday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 125.77 and a beta of 2.42. MP Materials has a one year low of $12.68 and a one year high of $28.25. The stock has a 50-day simple moving average of $15.28 and a 200 day simple moving average of $16.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The firm had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. Sell-side analysts predict that MP Materials will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in MP Materials during the fourth quarter valued at about $26,000. TFO Wealth Partners LLC raised its position in shares of MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC raised its position in shares of MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after buying an additional 766 shares during the last quarter. Fifth Third Bancorp raised its position in shares of MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after buying an additional 1,134 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after buying an additional 1,985 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.