MP Materials Corporation (NYSE:MP) price on Thursday, June 12, rose 13.88% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $29.20.
A look at the stock’s price movement, the close in the last trading session was $25.64. Turning to its 52-week performance, $29.72 and $10.02 were the 52-week high and 52-week low respectively. Overall, MP moved 40.59% over the past month.
MP Materials Corporation’s market cap currently stands at around $4.77 billion, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 44.55M for the company’s revenue for the quarter, with a low and high estimate of 30M and 78.1M respectively. The average forecast suggests up to a 42.52% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 241.48M, representing a 18.46% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MP is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 8 recommend MP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MP’s current price about 29.15% and 24.50% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.19, while 7-day volatility ratio is 8.62% and 5.81% in the 30-day chart. Further, MP Materials Corporation (MP) has a beta value of 2.15, and an average true range (ATR) of 2.31. Analysts have given the company’s stock an average 52-week price target of $23, forecast between a low of $12.5 and high of $47. Looking at the price targets, the low is 57.19% off current price level while to achieve the yearly target high, price needs to move -60.96%. Nonetheless, investors will most likely welcome a 21.23% jump to $23 which is the analysts’ median price.
If we refocus on MP Materials Corporation (NYSE:MP), historical trading data shows that trading volumes averaged 7.11 million over the past 3 months. The company’s latest data on shares outstanding shows there are 163.45 million shares.
The 26.81% of MP Materials Corporation’s shares are in the hands of company insiders while institutional holders own 69.56% of the company’s shares. Current price change has pushed the stock 87.18% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MP stock continues to rise going into the next quarter.
