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

Shares of MP Materials Corp. (NYSE:MP) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.19.

A number of research firms have recently commented on MP. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Jefferies Financial Group cut their price objective on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Canaccord Genuity Group dropped their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Morgan Stanley downgraded shares of MP Materials from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th.

MP Materials Stock Performance

NYSE MP opened at $16.35 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The company has a market capitalization of $2.91 billion, a PE ratio of 125.77 and a beta of 2.42. MP Materials has a 52-week low of $12.68 and a 52-week high of $28.25. The company has a 50-day simple moving average of $15.28 and a 200 day simple moving average of $16.45.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. On average, research analysts predict that MP Materials will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MP. Vanguard Group Inc. lifted its position in MP Materials by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock valued at $270,669,000 after acquiring an additional 254,881 shares during the period. BlackRock Inc. raised its position in shares of MP Materials by 1.8% in the 2nd quarter. BlackRock Inc. now owns 8,933,628 shares of the company’s stock worth $204,401,000 after purchasing an additional 157,764 shares during the last quarter. State Street Corp boosted its stake in MP Materials by 3.5% in the 2nd quarter. State Street Corp now owns 5,965,832 shares of the company’s stock worth $136,498,000 after purchasing an additional 200,041 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in MP Materials by 15.2% during the 4th quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock valued at $61,976,000 after purchasing an additional 411,771 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.