MP Materials Corporation (NYSE: MP) Continues To Thrive In 2024, As Its Stock Is Down -24.28% Year-To-Date

During the last session, MP Materials Corporation (NYSE:MP)’s traded shares were 3.19 million, with the beta value of the company hitting 2.40. At the end of the trading day, the stock’s price was $15.03, reflecting an intraday gain of 2.45% or $0.36. The 52-week high for the MP share is $28.75, that puts it down -91.28 from that peak though still a striking 15.64% gain since the share price plummeted to a 52-week low of $12.68. The company’s market capitalization is $2.68B, and the average intraday trading volume over the past 10 days was 3.23 million shares, and the average trade volume was 3.44 million shares over the past three months.

MP Materials Corporation (NYSE:MP) trade information

MP Materials Corporation (MP) registered a 2.45% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.45% in intraday trading to $15.03, hitting a weekly high. The stock’s 5-day price performance is 10.03%, and it has moved by -3.22% in 30 days. Based on these gigs, the overall price performance for the year is -46.68%. The short interest in MP Materials Corporation (NYSE:MP) is 27.74 million shares and it means that shorts have 5.81 day(s) to cover.

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MP Materials Corporation (MP) estimates and forecasts

Statistics show that MP Materials Corporation has underperformed its competitors in share price, compared to the industry in which it operates. MP Materials Corporation (MP) shares have gone down -18.89% during the last six months, with a year-to-date growth rate less than the industry average at -102.56% against 17.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -103.70% this quarter and then drop -100.00% in the quarter after that. In the rating firms’ projections, revenue will increase 3.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $51.61 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $60.04 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $95.7 million and $64.02 million respectively. In this case, analysts expect current quarter sales to shrink by -46.10% and then drop by -6.20% in the coming quarter.

While earnings are projected to return -81.48% in 2024, the next five years will return 32.30% per annum.

MP Dividends

MP Materials Corporation is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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