MP Materials (MP) Set to Announce Quarterly Earnings on Thursday

MP Materials (NYSE:MP) is set to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

MP Materials Stock Performance

MP Materials stock opened at $18.25 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The stock’s fifty day moving average is $16.14 and its two-hundred day moving average is $15.08. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $20.85.

MP Materials announced that its board has initiated a stock repurchase program on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 13.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

MP has been the topic of a number of research reports. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price target on MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets boosted their target price on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird upped their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $21.40.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It 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.