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MP Materials Corp. (NYSE:MP) 15.02% Above Its 52-Week Low, But Can It Keep Rising?

In last trading session, MP Materials Corp. (NYSE:MP) saw 11.96 million shares changing hands with its beta currently measuring 2.65. Company’s recent per share price level of $22.57 trading at -$0.03 or -0.13% at ring of the bell on the day assigns it a market valuation of $4.01B. That closing price of MP’s stock is at a discount of -62.47% from its 52-week high price of $36.67 and is indicating a premium of 15.02% from its 52-week low price of $19.18. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.51 million shares which gives us an average trading volume of 2.75 million if we extend that period to 3-months.

MP Materials Corp. (NYSE:MP) trade information

Upright in the red during last session for losing -0.13%, in the last five days MP remained trading in the green while hitting it’s week-highest on Friday, 09/15/23 when the stock touched $22.57 price level, adding 1.05% to its value on the day. MP Materials Corp.’s shares saw a change of -7.04% in year-to-date performance and have moved 5.37% in past 5-day. MP Materials Corp. (NYSE:MP) showed a performance of 5.37% in past 30-days. Number of shares sold short was 12.44 million shares which calculate 4.94 days to cover the short interests.

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MP Materials Corp. (MP) estimates and forecasts

Statistics highlight that MP Materials Corp. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -18.28% of value to its shares in past 6 months, showing an annual growth rate of -67.26% while that of industry is 8.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -100.00% in the current quarter and calculating -109.50% decrease in the next quarter. This year revenue growth is estimated to fall -51.80% from the last financial year’s standing.

10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $51.11 million for the same. And 10 analysts are in estimates of company making revenue of $44.78 million in the next quarter that will end on Dec 2023. Company posted $116.81 million and $93.25 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -56.20% while estimating it to be -52.00% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 11.83% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 113.30% while estimates for its earnings growth in next 5 years are of 27.32%.

MP Dividends

MP Materials Corp. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

MP Materials Corp. (NYSE:MP)’s Major holders

Insiders are in possession of 19.60% of company’s total shares while institution are holding 50.16 percent of that, with stock having share float percentage of 62.39%. Investors also watch the number of corporate investors in a company very closely, which is 50.16% institutions for MP Materials Corp. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at MP for having 10.68 million shares of worth $244.42 million. And as of Jun 29, 2023, it was holding 6.01% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 8.93 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 5.03% of outstanding shares, having a total worth of $204.4 million.

On the other hand, Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 3.69 million shares of worth $84.32 million or 2.07% of the total outstanding shares. The later fund manager was in possession of 3.53 million shares on Jul 30, 2023, making its stake of worth around $84.22 million in the company or a holder of 1.99% of company’s stock.

On Key

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