Zacks: Brokerages Expect MP Materials Corp. (NYSE:MP) Will Post Quarterly Sales of $121.03 Million

Posted by on Jun 2nd, 2022

Wall Street analysts forecast that MP Materials Corp. (NYSE:MP – Get Rating) will report $121.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MP Materials’ earnings, with the highest sales estimate coming in at $134.18 million and the lowest estimate coming in at $113.70 million. MP Materials posted sales of $73.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 65.5%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that MP Materials will report full-year sales of $503.10 million for the current year, with estimates ranging from $476.58 million to $531.00 million. For the next financial year, analysts expect that the firm will report sales of $652.66 million, with estimates ranging from $526.20 million to $860.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for MP Materials.

MP Materials (NYSE:MP – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. MP Materials had a net margin of 46.66% and a return on equity of 21.91%. The firm had revenue of $166.26 million for the quarter, compared to the consensus estimate of $132.40 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s revenue for the quarter was up 177.2% on a year-over-year basis.

Several research analysts have recently weighed in on MP shares. Morgan Stanley decreased their price target on shares of MP Materials from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. Benchmark raised MP Materials from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, February 9th. BMO Capital Markets began coverage on MP Materials in a report on Tuesday. They set an “outperform” rating and a $50.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of MP Materials from $37.00 to $45.00 in a research note on Thursday, May 5th. Finally, Zacks Investment Research cut shares of MP Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.11.

In related news, Director Randall J. Weisenburger acquired 30,000 shares of the stock in a transaction on Monday, March 7th. The stock was acquired at an average price of $38.40 per share, for a total transaction of $1,152,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Financial Lp Qvt sold 31,298 shares of MP Materials stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $40.21, for a total value of $1,258,492.58. Following the transaction, the director now owns 1,385,468 shares of the company’s stock, valued at approximately $55,709,668.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 49,200 shares of company stock worth $1,911,264 and have sold 1,201,016 shares worth $52,276,833. 49.70% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of MP Materials by 226.6% in the fourth quarter. HighTower Advisors LLC now owns 32,782 shares of the company’s stock worth $1,484,000 after purchasing an additional 22,744 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of MP Materials by 3,988.9% in the third quarter. Macquarie Group Ltd. now owns 87,626 shares of the company’s stock worth $2,824,000 after purchasing an additional 85,483 shares during the last quarter. MADDEN SECURITIES Corp raised its stake in shares of MP Materials by 4.6% in the fourth quarter. MADDEN SECURITIES Corp now owns 116,775 shares of the company’s stock worth $5,304,000 after purchasing an additional 5,180 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of MP Materials in the fourth quarter worth $503,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of MP Materials by 156.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the company’s stock worth $74,000 after acquiring an additional 1,130 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

NYSE MP opened at $38.97 on Thursday. The company’s 50 day simple moving average is $44.16 and its two-hundred day simple moving average is $43.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 25.52 and a quick ratio of 24.76. MP Materials has a 1 year low of $27.99 and a 1 year high of $60.19. The stock has a market capitalization of $6.92 billion, a PE ratio of 35.75, a P/E/G ratio of 1.77 and a beta of 3.38.

MP Materials Company Profile (Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.

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