MP Materials Corporation [MP] stock is trading at $16.02, up 9.65%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The MP shares have gain 6.23% over the last week, with a monthly amount glided 4.91%, and seem to be holding up well over a long-time horizon.
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On 1, April 2024, MP Materials Awarded $58.5 Million to Advance U.S. Rare Earth Magnet Manufacturing. In a post published today on Yahoo Finance, MP Materials (NYSE: MP) has received a $58.5 million award to advance its construction of America’s first fully-integrated rare earth magnet manufacturing facility. The Section 48C Advanced Energy Project tax credit allocation was issued by the IRS and Treasury following a competitive, oversubscribed process administered by the Department of Energy that evaluated the technical and commercial viability and environmental and community impact of approximately 250 projects.
From an analyst’s perspective:
MP Materials Corporation [NYSE: MP] stock has seen the most recent analyst activity on March 13, 2024, when Morgan Stanley downgraded its rating to a Equal-Weight and also revised its price target to $15.50 from $26. Previously, Northland Capital upgraded its rating to Outperform on September 06, 2023. On August 31, 2023, JP Morgan initiated with a Overweight rating and assigned a price target of $27 on the stock. Northland Capital downgraded its rating to a Market Perform but stick to its price target of $32 on April 18, 2023. Canaccord Genuity initiated its recommendation with a Buy and recommended $44 as its price target on July 13, 2022. In a note dated June 01, 2022, BMO Capital Markets initiated an Outperform rating and provided a target price of $50 on this stock.
MP Materials Corporation [MP] stock has fluctuated between $12.68 and $28.71 over the past year. Currently, Wall Street analysts expect the stock to reach $28.13 within the next 12 months. MP Materials Corporation [NYSE: MP] shares were valued at $16.02 at the most recent close of the market. An investor can expect a potential return of 75.59% based on the average MP price forecast.
Analyzing the MP fundamentals
MP Materials Corporation [NYSE:MP] reported sales of 253.44M for the trailing twelve months, which represents a drop of -55.81%. Gross Profit Margin for this corporation currently stands at 0.58% with Operating Profit Margin at -0.07%, Pretax Profit Margin comes in at 0.13%, and Net Profit Margin reading is 0.1%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.02 and Total Capital is -0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.5.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 15.15 points at the first support level, and at 14.28 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.63, and for the 2nd resistance point, it is at 17.24.
MP Materials Corporation [MP] reported earnings per share of -$0.02 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.04/share, meaning a difference of $0.02 and a surprise factor of 50.00%.
Ratios To Look Out For
For context, MP Materials Corporation’s Current Ratio is 10.42. As well, the Quick Ratio is 9.54, while the Cash Ratio is 2.44. Considering the valuation of this stock, the price to sales ratio is 11.26, the price to book ratio is 2.09 and price to earnings (TTM) ratio is 134.06.
Transactions by insiders
Recent insider trading involved Rosenthal Michael Stuart, Chief Operating Officer, that happened on May 31 ’23 when 5000.0 shares were purchased. Chief Operating Officer, Rosenthal Michael Stuart completed a deal on May 30 ’23 to buy 6000.0 shares. Meanwhile, Chief Operating Officer Rosenthal Michael Stuart bought 7000.0 shares on May 26 ’23.
