MP Materials (MP) Set to Announce Quarterly Earnings on Thursday

MP Materials (NYSE:MP - Get Free Report) is set to release its earnings data after the market closes on Thursday, November 7th. Analysts expect MP Materials to post earnings of ($0.11) per share for the quarter. Persons that are interested in registering for the company's earnings 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) EPS 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 for the quarter, compared to the consensus estimate of $40.03 million. During the same period last year, the firm earned $0.07 earnings per share. The company'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 Down 3.9 %

NYSE:MP traded down $0.74 on Thursday, hitting $18.00. 2,150,191 shares of the company's stock were exchanged, compared to its average volume of 3,278,111. The firm has a 50-day moving average price of $15.93 and a 200-day moving average price of $15.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. MP Materials has a 52 week low of $10.02 and a 52 week high of $20.85. The company has a market cap of $2.98 billion, a P/E ratio of -45.00 and a beta of 2.23.

MP Materials announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MP. BMO Capital Markets upped their target price on shares of MP Materials from $16.00 to $18.50 and gave the company a "market perform" rating in a report on Friday, October 25th. Morgan Stanley upped their target price on shares of MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. DA Davidson upped their target price on shares of MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Canaccord Genuity Group dropped their target price on shares of MP Materials from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.40.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal bought 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $10.84 per share, with a total value of $325,200.00. Following the completion of the acquisition, the chief operating officer now owns 1,402,975 shares of the company's stock, valued at $15,208,249. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.60% of the company's stock.

About MP Materials

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.