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In the latest trading session, MP Materials Corp. (MP) closed at $29.31, marking a -6.92% move from the previous day. This change lagged the S&P 500's 0.82% gain on the day.
Prior to today's trading, shares of the company had lost 7.68% over the past month. This has lagged the Basic Materials sector's gain of 8.18% and the S&P 500's gain of 2.31% in that time.
Investors will be hoping for strength from MP as it approaches its next earnings release, which is expected to be May 6, 2021.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.42 per share and revenue of $227.21 million, which would represent changes of +55.56% and +69.16%, respectively, from the prior year.
Any recent changes to analyst estimates for MP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MP is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that MP has a Forward P/E ratio of 74.98 right now. This represents a premium compared to its industry's average Forward P/E of 12.
Meanwhile, MP's PEG ratio is currently 1.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MP in the coming trading sessions, be sure to utilize Zacks.com.
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