MP Materials Corp. (MP) Advances But Underperforms Market: Key Facts
MP Materials Corp. (MP) closed at $18.59 in the latest trading session, marking a +1.36% move from the prior day. The stock lagged the S&P 500's daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
Coming into today, shares of the company had gained 9.56% in the past month. In that same time, the Basic Materials sector gained 5.33%, while the S&P 500 gained 2.9%.
Market participants will be closely following the financial results of MP Materials Corp. in its upcoming release. The company is forecasted to report an EPS of -$0.01, showcasing a 102.38% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $50.45 million, down 45.9% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for MP Materials Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.21% decrease. MP Materials Corp. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note MP Materials Corp.'s current valuation metrics, including its Forward P/E ratio of 34.77. This expresses a premium compared to the average Forward P/E of 12.55 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
MP Materials Corp. (MP) : Free Stock Analysis Report
