Why did MP Materials stock drop? (2024)

Why did MP Materials stock drop?

MP said the drop was due in part to lower production at the California mine, partly due to problems at the facility's power plant. MP has been working to refine its own rare earths for some time.

Why is MP Materials stock going down?

The Bottom Line. The biggest low-light for us was that the forecasts for MP Materials dropped from profits to a loss this year. Unfortunately analysts also downgraded their revenue estimates, and industry data suggests that MP Materials' revenues are expected to grow slower than the wider market.

Is MP Materials a good stock to buy?

MP Materials's analyst rating consensus is a Strong Buy. This is based on the ratings of 9 Wall Streets Analysts.

What is the future of MP Materials?

The average one-year price target for MP Materials Corp. is $27.725. The forecasts range from a low of $14.14 to a high of $47.25. A stock's price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings.

What is the outlook for MP Materials?

MP Materials is forecast to grow earnings and revenue by 54% and 28.7% per annum respectively. EPS is expected to grow by 53.8% per annum. Return on equity is forecast to be 8.3% in 3 years.

Who is the largest shareholder of MP Materials?

Is MP Materials a buy sell or hold?

MP Materials stock has received a consensus rating of buy. The average rating score is and is based on 16 buy ratings, 2 hold ratings, and 0 sell ratings.

Is MP Materials owned by Chinese?

As of December 2021, JHL Capital Group, QVT Financial, and CEO James Litinsky were the company's three largest shareholders, and about 7.7% of the company was owned by Shenghe Resources, a Chinese company. Apart from institutions, other investors own 18%.

What is the future of MP stock?

On average, Wall Street analysts predict that Mp Materials's share price could reach $23.42 by Mar 19, 2025. The average Mp Materials stock price prediction forecasts a potential upside of 64.68% from the current MP share price of $14.22.

Does MP stock pay a dividend?

MP Materials (MP) does not pay a dividend.

Is MP Materials profitable?

MP posted a quarterly net loss of $16.3 million, or 9 cents per share, compared with a profit of $67 million, or 36 cents per share, in the year-ago quarter. Excluding one-time items, MP lost 2 cents per share. Analysts expected a loss of 4 cents, according to LSEG data.

What is the target price for MP Materials?

What is the MP Materials stock price forecast for 2024?

The average twelve-month price prediction for MP Materials is $25.44 with a high price target of $39.00 and a low price target of $15.50.

How many employees does MP Materials have?

What is the MP stock price forecast for 2025?

The Fortress Value Acquisition stock prediction for 2025 is currently $ 18.92, assuming that Fortress Value Acquisition shares will continue growing at the average yearly rate as they did in the last 10 years. This would represent a 38.52% increase in the MP stock price.

When did MP Materials go public?

On November 17, 2020, in connection with the consummation of the Business Combination, the Company issued, in a private placement transaction (the “PIPE Financing”), an aggregate of 20,000,000 shares of Common Stock for an aggregate purchase price of $200.0 million, to the PIPE Investors pursuant to the terms of ...

Who is the owner of MP Materials?

James LitinskyChairman

Litinsky is the Founder, Chairman, and Chief Executive Officer of MP Materials Corp. (NYSE: MP). Mr. Litinsky is also the Founder, Chief Executive Officer, and Chief Investment Officer of JHL Capital Group LLC, an alternative investment management firm.

How many shares does MP Materials have?

Number of shares outstanding as of March 2024 : 177,619,628

According to MP Materials's latest financial reports and stock price the company's current number of shares outstanding is 177,619,628. At the end of 2023 the company had 177,619,628 shares outstanding.

Who are MP Materials Corp competitors?

The main competitors of MP Materials include Hudbay Minerals (HBM), Ferroglobe (GSM), Lithium Americas (Argentina) (LAAC), Minerals Technologies (MTX), Sylvamo (SLVM), Hecla Mining (HL), Tronox (TROX), Daqo New Energy (DQ), Eldorado Gold (EGO), and Materion (MTRN).

Is MP a good company?

MP has an overall rating of 4.1 out of 5, based on over 47 reviews left anonymously by employees. 77% of employees would recommend working at MP to a friend and 74% have a positive outlook for the business. This rating has decreased by 6% over the last 12 months.

Is this a good time to buy Applied Materials stock?

Out of 17 analysts, 7 (41.18%) are recommending AMAT as a Strong Buy, 5 (29.41%) are recommending AMAT as a Buy, 4 (23.53%) are recommending AMAT as a Hold, 0 (0%) are recommending AMAT as a Sell, and 1 (5.88%) are recommending AMAT as a Strong Sell.

Where can I buy MP Materials stock?

Sign up for a Robinhood brokerage account to buy or sell MP Materials stock and options commission-free. Other fees may apply.

What is the best rare earth stock to buy?

How does MP Materials make money?

For the past three years, MP has processed rock that it extracts from its California mine into rare earths concentrate. The company produced 10,863 tonnes of that concentrate during the quarter, about 5% higher than the year-ago period.

Who is the largest producer of rare earth metals in the world?

China is the world's largest producer of rare earths by a large margin. The United States is distantly the world's second-largest rare earths producer, with an output of about one-fifth the volume of China.