MP Materials Corp. (NYSE:MP) Receives $23.64 Consensus Price Target from Brokerages

MP Materials Corp. (NYSE:MPGet Free Report) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.64.

Several equities research analysts have recently issued reports on MP shares. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Jefferies Financial Group reduced 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Canaccord Genuity Group cut their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, Benchmark reissued a “buy” rating and set a $30.00 target price on shares of MP Materials in a research report on Friday, May 3rd.

Check Out Our Latest Analysis on MP

MP Materials Stock Performance

Shares of NYSE:MP opened at $16.34 on Tuesday. MP Materials has a 52 week low of $12.68 and a 52 week high of $26.53. The stock has a market capitalization of $2.70 billion, a P/E ratio of -108.93 and a beta of 2.31. The firm has a fifty day simple moving average of $15.35 and a two-hundred day simple moving average of $16.27. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MPGet Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 1.62% and a negative return on equity of 0.61%. On average, analysts expect that MP Materials will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Several large investors have recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in shares of MP Materials by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock valued at $3,581,000 after purchasing an additional 723 shares during the period. CWM LLC raised its position in MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares during the period. Amalgamated Bank raised its position in MP Materials by 1.0% during the fourth quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock worth $1,675,000 after acquiring an additional 798 shares during the period. State of Michigan Retirement System raised its position in MP Materials by 2.3% during the first quarter. State of Michigan Retirement System now owns 35,400 shares of the company’s stock worth $506,000 after acquiring an additional 800 shares during the period. Finally, Mirador Capital Partners LP raised its position in MP Materials by 5.3% during the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock worth $340,000 after acquiring an additional 863 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

About MP Materials

(Get Free Report

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.

Further Reading

Analyst Recommendations for MP Materials (NYSE:MP)

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