MP Materials Corp. (MP) Stock Moves -0.13%: What You Should Know
MP Materials Corp. (MP) closed the most recent trading day at $22.57, moving -0.13% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Prior to today's trading, shares of the company had gained 6.1% over the past month. This has outpaced the Basic Materials sector's gain of 1.12% and the S&P 500's gain of 0.54% in that time.
MP Materials Corp. will be looking to display strength as it nears its next earnings release. On that day, MP Materials Corp. is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 77.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $54.51 million, down 56.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $263.28 million, which would represent changes of -67.26% and -50.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MP Materials Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MP Materials Corp. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, MP Materials Corp. is holding a Forward P/E ratio of 41.09. This represents a premium compared to its industry's average Forward P/E of 10.77.
Meanwhile, MP's PEG ratio is currently 2.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MP's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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
