MP Materials (NYSE:MP) Earns Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of MP Materials (NYSE:MP) in a report released on Friday, Benzinga reports. The brokerage currently has a $30.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group cut their price objective on MP Materials from $23.00 to $22.00 and set a buy rating on the stock in a research note on Wednesday, March 13th. Jefferies Financial Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft dropped 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. Morgan Stanley lowered shares of MP Materials from an overweight rating to an equal weight rating and decreased their price target for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered shares of MP Materials from an overweight rating to a neutral rating and dropped their price objective for the stock from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $23.64.

MP Materials Trading Up 4.5 %

NYSE:MP opened at $16.10 on Friday. MP Materials has a one year low of $12.68 and a one year high of $26.53. The business’s 50-day simple moving average is $15.25 and its 200 day simple moving average is $16.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -107.33, a price-to-earnings-growth ratio of 7.34 and a beta of 2.31.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, sell-side analysts predict that MP Materials will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pullen Investment Management LLC acquired a new position in shares of MP Materials during the first quarter valued at approximately $295,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of MP Materials by 11.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,796 shares of the company’s stock worth $269,000 after buying an additional 1,942 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of MP Materials by 162.7% in the first quarter. Private Advisor Group LLC now owns 364,693 shares of the company’s stock valued at $5,215,000 after buying an additional 225,859 shares during the period. J.W. Cole Advisors Inc. boosted its stake in MP Materials by 12.0% during the first quarter. J.W. Cole Advisors Inc. now owns 82,404 shares of the company’s stock valued at $1,178,000 after buying an additional 8,850 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. grew its holdings in MP Materials by 32.6% during the first quarter. Cutter & CO Brokerage Inc. now owns 177,346 shares of the company’s stock worth $2,536,000 after acquiring an additional 43,628 shares during the period. Institutional investors and hedge funds 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.