Brokerages Expect MP Materials Corp. (NYSE:MP) Will Post Quarterly Sales of $80.67 Million

Wall Street analysts forecast that MP Materials Corp. (NYSE:MP) will post sales of $80.67 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for MP Materials’ earnings. The lowest sales estimate is $62.76 million and the highest is $98.58 million. MP Materials posted sales of $42.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 91.3%. The company is scheduled to report its next quarterly earnings report on Thursday, March 17th.

On average, analysts expect that MP Materials will report full-year sales of $312.39 million for the current financial year, with estimates ranging from $295.60 million to $331.42 million. For the next fiscal year, analysts anticipate that the business will report sales of $457.68 million, with estimates ranging from $320.86 million to $597.04 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover MP Materials.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. MP Materials had a net margin of 40.06% and a return on equity of 12.49%. The business had revenue of $99.75 million during the quarter, compared to the consensus estimate of $77.10 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 143.3% on a year-over-year basis.

MP has been the topic of several analyst reports. Benchmark initiated coverage on shares of MP Materials in a research note on Thursday, November 11th. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Saturday, November 13th. Morgan Stanley lifted their price target on shares of MP Materials from $38.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 9th. Jefferies Financial Group initiated coverage on shares of MP Materials in a research note on Thursday, November 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Bank of America initiated coverage on shares of MP Materials in a research note on Tuesday, November 30th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and an average target price of $45.56.

In other MP Materials news, Director Daniel Allen Gold sold 201,000 shares of the business’s stock in a transaction on Friday, December 17th. The shares were sold at an average price of $42.42, for a total value of $8,526,420.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Financial Lp Qvt sold 343,400 shares of the business’s stock in a transaction on Friday, December 10th. The stock was sold at an average price of $47.24, for a total transaction of $16,222,216.00. The disclosure for this sale can be found here. 49.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. MADDEN SECURITIES Corp lifted its stake in MP Materials by 4.6% in the 4th quarter. MADDEN SECURITIES Corp now owns 116,775 shares of the company’s stock worth $5,304,000 after purchasing an additional 5,180 shares in the last quarter. Sycomore Asset Management lifted its stake in MP Materials by 1.9% in the 4th quarter. Sycomore Asset Management now owns 100,404 shares of the company’s stock worth $4,474,000 after purchasing an additional 1,832 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in MP Materials in the 4th quarter worth $423,000. Patriot Financial Group Insurance Agency LLC lifted its stake in MP Materials by 450.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,650 shares of the company’s stock worth $75,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of MP Materials in the 4th quarter worth about $209,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

NYSE:MP traded up $0.94 during trading hours on Friday, reaching $46.83. The company had a trading volume of 1,776,201 shares, compared to its average volume of 2,833,699. The company has a current ratio of 17.74, a quick ratio of 17.26 and a debt-to-equity ratio of 0.71. MP Materials has a 52 week low of $23.18 and a 52 week high of $53.03. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 69.90 and a beta of 3.45. The firm’s 50 day moving average price is $44.14 and its 200-day moving average price is $37.86.

MP Materials Company Profile

MP Materials Corp. engages in the ownership and operation of integrated rare earth mining and processing facilities. It owns and operates the Mountain Pass facility located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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