Recent Analysts’ Ratings Changes for MP Materials (MP)

MP Materials (NYSE: MP) recently received a number of ratings updates from brokerages and research firms:

• 10/1/2024 – MP Materials had its price target raised by analysts at DA Davidson from $20.00 to $23.00. They now have a “buy” rating on the stock.
• 9/30/2024 – MP Materials had its price target raised by analysts at BMO Capital Markets from $15.50 to $16.00. They now have a “market perform” rating on the stock.
• 9/27/2024 – MP Materials had its price target raised by analysts at Robert W. Baird from $20.00 to $25.00. They now have an “outperform” rating on the stock.
• 9/19/2024 – MP Materials had its price target raised by analysts at Morgan Stanley from $13.50 to $16.00. They now have an “equal weight” rating on the stock.
• 8/27/2024 – MP Materials had its price target lowered by analysts at Canaccord Genuity Group Inc. from $20.00 to $19.00. They now have a “buy” rating on the stock.
• 8/6/2024 – MP Materials had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $13.50 to $12.50. They now have a “hold” rating on the stock.

MP Materials Trading Up 2.5 %

Shares of NYSE:MP traded up $0.42 during mid-day trading on Friday, hitting $17.38. The company had a trading volume of 2,313,925 shares, compared to its average volume of 3,391,332. The firm has a fifty day moving average price of $13.51 and a 200 day moving average price of $14.63. MP Materials Corp. has a one year low of $10.02 and a one year high of $20.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The company has a market capitalization of $2.87 billion, a PE ratio of -115.87 and a beta of 2.23.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The business had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The business’s revenue for the quarter was down 51.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. As a group, research analysts forecast that MP Materials Corp. will post -0.47 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Stuart Rosenthal acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the purchase, the chief operating officer now owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MP Materials in the second quarter worth approximately $100,000. Sycomore Asset Management raised its holdings in shares of MP Materials by 27.8% during the second quarter. Sycomore Asset Management now owns 37,180 shares of the company’s stock valued at $468,000 after acquiring an additional 8,083 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of MP Materials by 26.3% during the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock valued at $10,785,000 after acquiring an additional 176,219 shares in the last quarter. Aurora Investment Counsel raised its holdings in shares of MP Materials by 1.7% during the second quarter. Aurora Investment Counsel now owns 66,153 shares of the company’s stock valued at $842,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its holdings in MP Materials by 64.6% in the second quarter. Regal Investment Advisors LLC now owns 20,147 shares of the company’s stock worth $256,000 after purchasing an additional 7,906 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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.