In the last trading session, 1.64 million MP Materials Corporation (NYSE:MP) shares changed hands as the company’s beta touched 2.53. With the company’s per share price at $16.27 changed hands at $0.09 or 0.56% during last session, the market valuation stood at $2.89B. MP’s last price was a discount, traded about -125.38% off its 52-week high of $36.67. The share price had its 52-week low at $14.47, which suggests the last value was 11.06% up since then. When we look at MP Materials Corporation’s average trading volume, we note the 10-day average is 2.89 million shares, with the 3-month average coming to 2.69 million.
Analysts gave the MP Materials Corporation (MP) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.23. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 1 recommended MP as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. MP Materials Corporation’s EPS for the current quarter is expected to be -$0.04.
MP Materials Corporation (NYSE:MP) trade information
Instantly MP was in green as seen at the end of in last trading. With action 8.83%, the performance over the past five days has been green. The jump to weekly highs of 16.66 on Monday, 11/20/23 added 0.56% to the stock’s daily price. The company’s shares are showing year-to-date downside of -32.99%, with the 5-day performance at 8.83% in the green. However, in the 30-day time frame, MP Materials Corporation (NYSE:MP) is -5.57% down. Looking at the short shares, we see there were 15.11 million shares sold at short interest cover period of 6.32 days.
The consensus price target for the stock as assigned by Wall Street analysts is $30.67, meaning bulls need an upside of 46.95% from its current market value. According to analyst projections, MP’s forecast low is $18.00 with $45.00 as the target high. To hit the forecast high, the stock’s price needs a -176.58% plunge from its current level, while the stock would need to soar -10.63% for it to hit the projected low.
MP Materials Corporation (MP) estimates and forecasts
Data shows that the MP Materials Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.44% over the past 6 months, a -76.79% in annual growth rate that is considerably lower than the industry average of 7.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for MP Materials Corporation will fall -109.50%, while the growth in revenue is estimated to hit -96.30% for the next quarter. Year-over-year growth is forecast to reach -50.80% down from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $50.5 million. 4 analysts are of the opinion that MP Materials Corporation’s revenue for the quarter ending Mar 2024 will be $80.03 million. The company’s revenue for the corresponding quarters a year ago was $93.25 million and $95.7 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -45.80%. The estimates for the next quarter sales put growth at -16.40%.
The 2023 estimates are for MP Materials Corporation earnings to decrease by -79.37%, but the outlook for the next 5-year period is at 27.32% per year.
MP Materials Corporation is expected to release its next quarterly earnings report on November 02.
MP Materials Corporation (NYSE:MP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 19.60% of MP Materials Corporation shares while 50.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.39%. There are 50.16% institutions holding the MP Materials Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 6.01% of the shares, roughly 10.68 million MP shares worth $244.42 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.03% or 8.93 million shares worth $204.4 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 4.5 million shares estimated at $85.96 million under it, the former controlled 2.53% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.07% of the shares, roughly 3.69 million shares worth around $84.32 million.