D.A. Davidson analyst Matt Summerville maintained a Buy rating on MP Materials (MP – Research Report) today. The company’s shares closed yesterday at $15.96.
Summerville covers the Industrials sector, focusing on stocks such as Crane NXT, ITT, and Ametek. According to TipRanks, Summerville has an average return of 7.6% and a 52.38% success rate on recommended stocks.
In addition to D.A. Davidson, MP Materials also received a Buy from Benchmark Co.’s Subash Chandra in a report issued today. However, on the same day, J.P. Morgan maintained a Hold rating on MP Materials (NYSE: MP).
Based on MP Materials’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $41.21 million and a GAAP net loss of $16.26 million. In comparison, last year the company earned a revenue of $93.25 million and had a net profit of $67.01 million
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MP Materials (MP) Company Description:
MP Materials is one of the largest producers of rare earth materials, accounting for about 15% of the global supply. It operates the Mountain Pass Rare Earth Mine and Processing Facility. These rare earth materials are a critical input for powering EVs, drones, wind turbines, and other advanced technologies.
Read More on MP:
- XME, PICK, COPX: Proposed Mining Mega Deal Bullish for These ETFs
- XME ETF: Time to Check Out Metals and Mining Stocks?
- MP Materials downgraded to Neutral from Overweight at JPMorgan
- Australian Stocks: Rinehart Grabs Big Stake in Lynas Rare Earths (LYC), Shares Soar
- MP Materials price target lowered to $15 from $17 at Deutsche Bank
