D.A. Davidson analyst Matt Summerville maintained a Buy rating on MP Materials (MP – Research Report) today. The company’s shares closed yesterday at $15.66.
Summerville covers the Industrials sector, focusing on stocks such as Ametek, Hillenbrand, and Nordson. According to TipRanks, Summerville has an average return of 7.5% and a 53.57% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MP Materials with a $22.00 average price target, implying a 40.49% upside from current levels. In a report released today, TD Cowen also maintained a Buy rating on the stock with a $22.00 price target.
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MP market cap is currently $2.86B and has a P/E ratio of 28.09.
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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:
- MP Materials price target lowered to $23 from $27 at Canaccord
- MP Materials, Lynas may be working on mega-merger, AFR reports
- MP Materials price target lowered to $22 from $26 at TD Cowen
- MP Materials put volume heavy and directionally bearish
- MP Materials price target lowered to $14 from $18 at Deutsche Bank
