Could MP Materials Corporation (NYSE: MP) Deliver Exceptional Returns?

In the last trading session, 3.7 million shares of the MP Materials Corporation (NYSE:MP) were traded, and its beta was 2.42. Most recently the company’s share price was $14.30, and it changed around -$0.23 or -1.58% from the last close, which brings the market valuation of the company to $2.55B. MP currently trades at a discount to its 52-week high of $28.75, offering almost -101.05% off that amount. The share price’s 52-week low was $12.68, which indicates that the current value has risen by an impressive 11.33% since then. We note from MP Materials Corporation’s average daily trading volume that its 10-day average is 3.52 million shares, with the 3-month average coming to 3.38 million.

MP Materials Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.45. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 1 recommended MP as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. MP Materials Corporation is expected to report earnings per share of -$0.01 for the current quarter.

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MP Materials Corporation (NYSE:MP) trade information

Instantly MP has showed a red trend with a performance of -1.58% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -27.96% year-to-date, but still up 0.56% over the last five days. On the other hand, MP Materials Corporation (NYSE:MP) is -6.11% down in the 30-day period. We can see from the shorts that 27.74 million shares have been sold at a short interest cover period of 5.81 day(s).

The consensus price target as assigned by Wall Street analysts is $28.13, which translates to bulls needing to increase their stock price by 49.16% from its current value. Analyst projections state that MP is forecast to be at a low of $15.5 and a high of $47.

MP Materials Corporation (MP) estimates and forecasts

MP Materials Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -23.28 percent over the past six months and at a -102.56% annual growth rate that is well below the industry average of 18.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -103.70% in revenue this quarter, and will report a decrease of -100.00% in the next quarter. The year-over-year growth rate is expected to be 3.50%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $51.61 million in revenue for the current quarter. 4 analysts expect MP Materials Corporation to make $60.04 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $95.7 million and $64.02 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -46.10%. Forecasts for the next quarter put sales growth at -6.20%.

MP Materials Corporation earnings are expected to increase by -81.48% in 2024, but the outlook is positive 32.30% per year for the next five years.

MP Dividends

MP Materials Corporation’s next quarterly earnings report is expected to be released around May 02 and May 06.

MP Materials Corporation (NYSE:MP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 19.63% of MP Materials Corporation shares, and 54.09% of them are in the hands of institutional investors. The stock currently has a share float of 67.30%. MP Materials Corporation stock is held by 526 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 7.66% of the shares, which is about 13.64 million shares worth $194.99 million.

Blackrock Inc., with 7.00% or 12.47 million shares worth $178.37 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Dec 30, 2023. The former held 4.5 million shares worth $64.36 million, making up 2.53% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 4.37 million shares worth around $62.54 million, which represents about 2.46% of the total shares outstanding.