Canaccord Genuity slashes price target on MP Materials Corp. [MP] – find out why.

MP Materials Corp. [NYSE: MP] loss -5.97% or -1.86 points to close at $29.27 with a heavy trading volume of 3190720 shares. The company report on November 3, 2022 that MP Materials Reports Third Quarter 2022 Results and Begins Stage II Commissioning.


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It opened the trading session at $30.50, the shares rose to $30.65 and dropped to $28.8718, the range by which the price of stock traded the whole day. The daily chart for MP points out that the company has recorded -9.60% loss over the past six months. However, it is still -11.76% lower than its most recent low trading price.

If we look at the average trading volume of 1.83M shares, MP reached to a volume of 3190720 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about MP Materials Corp. [MP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MP shares is $44.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MP stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for MP Materials Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on June 06, 2022, representing the official price target for MP Materials Corp. stock. Previously, the target price had yet another raise to $50, while BMO Capital Markets analysts kept a Outperform rating on MP stock.

The Average True Range (ATR) for MP Materials Corp. is set at 1.62, with the Price to Sales ratio for MP stock in the period of the last 12 months amounting to 9.98. The Price to Book ratio for the last quarter was 4.16, with the Price to Cash per share for the same quarter was set at 6.95. Price to Free Cash Flow for MP in the course of the last twelve months was 56.55 with Quick ratio for the last quarter at 17.30.

Trading performance analysis for MP stock

MP Materials Corp. [MP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.43. With this latest performance, MP shares dropped by -17.22% in over the last four-week period, additionally sinking by -9.60% over the last 6 months – not to mention a drop of -31.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MP stock in for the last two-week period is set at 40.98, with the RSI for the last a single of trading hit 35.54, and the three-weeks RSI is set at 43.91 for MP Materials Corp. [MP]. The present Moving Average for the last 50 days of trading for this stock 31.17, while it was recorded at 30.86 for the last single week of trading, and 36.20 for the last 200 days.

MP Materials Corp. [MP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and MP Materials Corp. [MP] shares currently have an operating margin of +50.28 and a Gross Margin at +68.97. MP Materials Corp.’s Net Margin is presently recorded at +40.68.

Return on Equity for this stock inclined to 14.50, with Return on Assets sitting at 8.90.

MP Materials Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.30 and a Current Ratio set at 18.20.

MP Materials Corp. [MP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MP Materials Corp. go to 33.47%.

An analysis of insider ownership at MP Materials Corp. [MP]

There are presently around $3,342 million, or 65.30% of MP stock, in the hands of institutional investors. The top three institutional holders of MP stocks are: JHL CAPITAL GROUP LLC with ownership of 28,573,349, which is approximately -25.156% of the company’s market cap and around 0.90% of the total institutional ownership; QVT FINANCIAL LP, holding 13,655,280 shares of the stock with an approximate value of $399.69 million in MP stocks shares; and VANGUARD GROUP INC, currently with $262.76 million in MP stock with ownership of nearly 5.867% of the company’s market capitalization.

Positions in MP Materials Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 255 institutional holders increased their position in MP Materials Corp. [NYSE:MP] by around 16,240,998 shares. Additionally, 152 investors decreased positions by around 18,872,234 shares, while 58 investors held positions by with 79,075,837 shares. The mentioned changes placed institutional holdings at 114,189,069 shares, according to the latest SEC report filing. MP stock had 93 new institutional investments in for a total of 3,131,679 shares, while 66 institutional investors sold positions of 2,202,342 shares during the same period.

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