MP Materials Corp. (NYSE: MP) Given the average rating of “Buy” by analysts
The shares of MP Materials Corp. (NYSE: MP) have received a consensus recommendation to “Buy” from the eleven brokerages that currently cover the business, MarketBeat reports. Two equity research analysts rated the stock with a conservation rating and nine gave the company a buy rating. The 12-month average target price among analysts who hedged the stock in the past year is $ 42.67.
A number of stock analysts have published reports on the company. Benchmark began covering MP Materials in a report on Thursday, November 11. They issued a “keep” note to the company. Jefferies Financial Group began covering MP Materials in a report on Thursday, November 11. They set a “buy” rating and a price target of $ 55.00 for the company. Morgan Stanley reduced its price target for MP Materials from $ 43.00 to $ 38.00 and set an “overweight” rating for the company in a report released on Wednesday, September 29. Zacks investment research downgraded MP Materials from a “hold” rating to a “buy” rating and set a price target of $ 48.00 on the stock in a research report released on Saturday, November 13. Finally, Bank of America began covering MP Materials in a research report on Tuesday. They set a “buy” rating on the stock.
In other news, Director Financial Lp Qvt sold 1,095,612 shares of MP Materials in a trade dated Thursday, September 16. The stock was sold at an average price of $ 34.62, for a total trade of $ 37,930,087.44. The transaction has been disclosed in a legal file with the SEC, which can be accessed through this hyperlink. 49.70% of the shares are held by insiders.
Institutional investors and hedge funds have recently changed their holdings of equities. Parallel Advisors LLC purchased a new stake in MP Materials in the second quarter valued at approximately $ 25,000. Liberty Wealth Management LLC purchased a new stake in MP Materials in the second quarter valued at approximately $ 26,000. Nisa Investment Advisors LLC purchased a new stake in MP Materials in the second quarter valued at approximately $ 27,000. Harbor Investment Advisory LLC purchased a new stake in MP Materials in the second quarter for a value of approximately $ 37,000. Finally, Advisory Services Network LLC acquired a new stake in MP Materials in the second quarter for a value of approximately $ 39,000. 75.29% of the shares are currently held by institutional investors.
NYSE: MP opened at $ 43.94 on Wednesday. The company has a market cap of $ 7.81 billion, a PE ratio of 65.58 and a beta of 3.93. MP Materials has a fifty-two week minimum of $ 18.50 and a 52.77 week high of $ 51.77. The company has a debt to equity ratio of 0.71, a rapid ratio of 17.26 and a current ratio of 17.74. The company has a 50-day moving average price of $ 36.57 and a 200-day moving average price of $ 34.59.
MP Materials (NYSE: MP) last reported quarterly results on Thursday, November 4. The company reported EPS of $ 0.27 for the quarter, beating consensus analysts’ estimates of $ 0.17 by $ 0.10. The company posted revenue of $ 99.75 million in the quarter, compared to analysts’ estimates of $ 77.10 million. MP Materials recorded a return on equity of 12.49% and a net margin of 40.06%. The company’s revenue grew 143.3% year-over-year. In the same quarter of last year, the company posted earnings of $ 0.10 per share. Research analysts predict that MP Materials will post 0.69 EPS for the current year.
About MP Materials
MP Materials Corp. owns and operates integrated rare earth extraction and processing facilities. It owns and operates the Mountain Pass facility located in the Western Hemisphere. The Company owns the mining rights to the Mountain Pass mine and surrounding areas, as well as the intellectual property rights related to the processing and development of rare earth minerals.
Read more: Why is the cost of capital important?
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in MP Materials now?
Before you consider MP Materials, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and MP Materials was not on the list.
While MP Materials currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here