In the last trading session, 3.13 million MP Materials Corporation (NYSE:MP) shares changed hands as the company’s beta touched 2.42. With the company’s per share price at $13.66 changed hands at -$0.16 or -1.16% during last session, the market valuation stood at $2.43B. MP’s last price was a discount, traded about -110.47% off its 52-week high of $28.75. The share price had its 52-week low at $12.68, which suggests the last value was 7.17% up since then. When we look at MP Materials Corporation’s average trading volume, we note the 10-day average is 4.16 million shares, with the 3-month average coming to 3.36 million.
MP Materials Corporation (NYSE:MP) trade information
Instantly MP was in red as seen at the end of in last trading. With action 4.43%, the performance over the past five days has been green. The drop to weekly highs of 14.52 subtracted -1.16% to the stock’s daily price. The company’s shares are showing year-to-date downside of -31.18%, with the 5-day performance at 4.43% in the green. However, in the 30-day time frame, MP Materials Corporation (NYSE:MP) is -7.14% down. Looking at the short shares, we see there were 16.72 million shares sold at short interest cover period of 6.59 days.
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 -31.01% over the past 6 months, a -28.21% in annual growth rate that is considerably lower than the industry average of 14.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for MP Materials Corporation will fall -103.70%, while the growth in revenue is estimated to hit -88.90% for the next quarter. Year-over-year growth is forecast to reach 3.50% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $51.61 million. 4 analysts are of the opinion that MP Materials Corporation’s revenue for the quarter ending Jun 2024 will be $60.04 million. The company’s revenue for the corresponding quarters a year ago was $95.7 million and $64.02 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -46.10%. The estimates for the next quarter sales put growth at -6.20%.
The 2024 estimates are for MP Materials Corporation earnings to decrease by -81.20%, but the outlook for the next 5-year period is at 32.30% per year.
MP Dividends
MP Materials Corporation is expected to release its next quarterly earnings report between May 02 and May 06.
MP Materials Corporation (NYSE:MP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 19.63% of MP Materials Corporation shares while 54.05% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.25%. There are 54.05% 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.
