MP Materials (NYSE:MP - Get Free Report) will announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.
MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative return on equity of 4.28% and a negative net margin of 21.94%. The business had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same quarter last year, the company posted $0.07 EPS. MP Materials's quarterly revenue was down 51.2% compared to the same quarter last year. On average, analysts expect MP Materials to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
MP Materials Stock Performance
NYSE:MP traded down $0.74 during trading hours on Thursday, reaching $18.00. The company had a trading volume of 671,699 shares, compared to its average volume of 3,270,865. 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 business's 50 day moving average price is $15.82 and its 200-day moving average price is $15.05. MP Materials has a 1-year low of $10.02 and a 1-year high of $20.85. The firm has a market cap of $2.98 billion, a PE ratio of -46.85 and a beta of 2.23.
MP Materials announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 3rd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Several research firms recently issued reports on MP. Morgan Stanley boosted their price objective on MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. Robert W. Baird upped their price objective on MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Canaccord Genuity Group reduced their price target on shares of MP Materials from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $13.50 to $12.50 and set a "hold" rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average target price of $21.40.
Get Our Latest Report on MP
Insider Activity
In other MP Materials news, COO Michael Stuart Rosenthal bought 30,000 shares of MP Materials stock in a transaction dated Tuesday, August 6th. The stock was bought 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 in the company, valued at $15,208,249. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.60% of the company's stock.
About MP Materials
(
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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
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