MP Materials (NYSE:MP) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of MP Materials (NYSE:MP) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

A number of other analysts have also weighed in on MP. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. Freedom Broker started coverage on MP Materials in a research report on Wednesday, September 16th. They issued a “hold” rating and a $57.00 price objective on the stock. Citigroup restated a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Friday, July 17th. Finally, Robert W. Baird lowered their price target on MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average target price of $75.42.

MP Materials Price Performance

MP stock opened at $46.96 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -138.12 and a beta of 1.98. The firm has a 50 day moving average price of $51.29 and a 200-day moving average price of $55.27. MP Materials has a 52-week low of $37.81 and a 52-week high of $100.25.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business had revenue of $108.49 million during the quarter, compared to analysts’ expectations of $96.89 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The firm’s quarterly revenue was up 89.0% compared to the same quarter last year. Equities research analysts forecast that MP Materials will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

A number of hedge funds have recently modified their holdings of the company. EMC Capital Management purchased a new position in shares of MP Materials during the 4th quarter valued at $25,000. REAP Financial Group LLC purchased a new stake in shares of MP Materials during the fourth quarter worth about $26,000. Toth Financial Advisory Corp raised its stake in MP Materials by 73.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in MP Materials in the 4th quarter worth approximately $36,000. Finally, Markowski Investments purchased a new stake in MP Materials during the 2nd quarter valued at approximately $43,000. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.