MP Materials Stock Is Trading Higher Monday: What's Going On?

MP Materials Corp. (NYSE:MP) is in the spotlight Monday ahead of second-quarter earnings Thursday. Here’s what you need to know.

Check out what MP stock is doing now.

What To Know: Analysts estimate a loss of 18 cents per share and revenue of $46.31 million.

For the previous quarter, MP Materials reported a loss of 12 cents per share, in line with the consensus estimate. In addition, it reported revenue of $60.81 million, missing the consensus estimate of $63.69 million.

MP Materials has a mixed track record of beating revenue and earnings per share estimates in recent quarters.

Analyst Changes: Ahead of the earnings report, multiple analysts issued price targets.

• Morgan Stanley analyst Carlos De Alba reinstated the company with an Equal-Weight rating and announced a $65 price target.
• Baird analyst Ben Kallo maintained an Outperform rating and raised the price target from $52 to $69.
• JP Morgan analyst Bill Peterson maintained a Neutral rating on MP Materials and raised the price target from $18 to $64.
• Deutsche Bank analyst Corinne Blanchard maintained a Hold rating on MP Materials and raised the price target from $20 to $69.
• Canaccord Genuity analyst George Gianarikas maintained a Buy rating on MP Materials and raised the price target from $55 to $64.

The consensus price target for MP Materials is $43.25, with the lowest price target at $16 and the highest price target at $69.

MP Price Action: MP Materials stock closed 2.72% higher at $65.42, according to data from Benzinga Pro.

Related Link:
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Image: Courtesy of MP Materials Corp.