MP Materials (NYSE:MP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MP Materials (NYSE:MP) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on MP. Citigroup reissued a “positive” rating on shares of MP Materials in a report on Wednesday, July 15th. Robert W. Baird decreased their price target on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Barclays lowered their price objective on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $75.42.

MP Materials Trading Down 0.1%

Shares of MP Materials stock opened at $46.90 on Friday. MP Materials has a 12-month low of $37.81 and a 12-month high of $100.25. The company has a market cap of $8.35 billion, a price-to-earnings ratio of -137.95 and a beta of 1.98. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $51.37 and its 200-day moving average price is $55.15.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company 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%. MP Materials’s revenue was up 89.0% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. On average, equities analysts expect that MP Materials will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Several hedge funds have recently bought and sold shares of MP. Norges Bank bought a new position in shares of MP Materials in the 4th quarter worth $82,531,000. Bank of New York Mellon Corp bought a new stake in shares of MP Materials during the 2nd quarter worth $65,230,000. State Street Corp grew its position in MP Materials by 5.1% in the second quarter. State Street Corp now owns 7,773,746 shares of the company’s stock worth $435,408,000 after acquiring an additional 376,519 shares in the last quarter. 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 worth $18,580,000 after acquiring an additional 278,126 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in MP Materials by 32.4% in the first 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 during the last quarter. 52.55% of the stock is currently owned by institutional investors.

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.