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

MP Materials Corp. (NYSE:MP) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $23.64.

MP has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of MP Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Jefferies Financial Group lowered their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Canaccord Genuity Group lowered their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of MP Materials in a research note on Friday.

MP Materials Trading Up 4.5 %

NYSE MP opened at $16.10 on Tuesday. The stock has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $16.32. MP Materials has a 12 month low of $12.68 and a 12 month high of $26.53. The company has a market capitalization of $2.87 billion, a PE ratio of -107.33, a P/E/G ratio of 7.34 and a beta of 2.31. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. Research analysts forecast that MP Materials will post 0.06 EPS for the current year.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently modified their holdings of MP. GAMMA Investing LLC purchased a new position in MP Materials during the fourth quarter valued at $26,000. TFO Wealth Partners LLC grew its position in MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the last quarter. CWM LLC increased its stake in MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of MP Materials by 2,316.7% in the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after buying an additional 2,224 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings 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. Institutional investors own 52.55% of the company’s stock.

About MP Materials

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.