MP Materials (NYSE:MP) Upgraded to Outperform at Northland Securities

MP Materials (NYSE:MP) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, FlyOnTheWall reports.

A number of other equities research analysts have also recently weighed in on MP. TheStreet cut MP Materials from a “c-” rating to a “d+” rating in a research note on Thursday, May 18th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $26.00 to $24.00 in a research note on Friday, July 14th. Morgan Stanley dropped their price objective on shares of MP Materials from $35.00 to $34.00 in a report on Wednesday, June 21st. DA Davidson decreased their price target on shares of MP Materials from $42.00 to $39.00 in a research report on Tuesday, July 11th. Finally, JPMorgan Chase & Co. assumed coverage on MP Materials in a research report on Thursday, August 31st. They set an “overweight” rating and a $27.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, MP Materials currently has an average rating of “Buy” and a consensus price target of $34.14.

MP Materials Stock Performance

NYSE MP opened at $21.54 on Wednesday. The stock has a market cap of $3.83 billion, a PE ratio of 23.16, a P/E/G ratio of 2.88 and a beta of 2.66. MP Materials has a twelve month low of $19.18 and a twelve month high of $36.67. The stock has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $24.39. The company has a current ratio of 16.15, a quick ratio of 15.26 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $64.02 million for the quarter, compared to the consensus estimate of $60.44 million. MP Materials had a net margin of 46.38% and a return on equity of 14.63%. Equities analysts anticipate that MP Materials will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MP. Ameritas Advisory Services LLC acquired a new stake in MP Materials during the 1st quarter worth $30,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of MP Materials in the 1st quarter valued at about $30,000. AllSquare Wealth Management LLC purchased a new position in MP Materials during the 1st quarter worth approximately $45,000. Sunbelt Securities Inc. increased its position in MP Materials by 3,848.0% during the second quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after buying an additional 1,924 shares during the period. Finally, Elkhorn Partners Limited Partnership boosted its holdings in shares of MP Materials by 33.9% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after acquiring an additional 475 shares during the period. Hedge funds and other institutional investors own 59.41% of the company’s stock.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials in the Western Hemisphere. 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.