In a report released today, Matt Summerville from D.A. Davidson maintained a Buy rating on MP Materials (MP – Research Report), with a price target of $24.00. The company’s shares closed yesterday at $15.62.
According to TipRanks, Summerville is a 4-star analyst with an average return of 8.3% and a 52.79% success rate. Summerville covers the Industrials sector, focusing on stocks such as Nordson, Ametek, and Hillenbrand.
MP Materials has an analyst consensus of Strong Buy, with a price target consensus of $22.63, which is a 44.88% upside from current levels. In a report released on February 23, TD Cowen also maintained a Buy rating on the stock with a $22.00 price target.
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Based on MP Materials’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $52.52 million and a GAAP net loss of $4.28 million. In comparison, last year the company earned a revenue of $124.45 million and had a net profit of $63.18 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:
- MP Materials reports Q4 adjusted EPS (2c), consensus (4c)
- MP Materials options imply 6.5% move in share price post-earnings
- 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
