MP Materials Corp. (MP) Stock Moves -1.05%: What You Should Know
MP Materials Corp. (MP) closed at $19.80 in the latest trading session, marking a -1.05% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the company had lost 1.96% in the past month. In that same time, the Basic Materials sector lost 0.29%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from MP Materials Corp. as it approaches its next earnings report date. In that report, analysts expect MP Materials Corp. to post earnings of $0.08 per share. This would mark a year-over-year decline of 77.78%. Our most recent consensus estimate is calling for quarterly revenue 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.
Investors should also note any recent changes to analyst estimates for MP Materials Corp.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 Materials Corp. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, MP Materials Corp. is currently trading at a Forward P/E ratio of 36.38. This valuation marks a premium compared to its industry's average Forward P/E of 10.47.
We can also see that MP currently has a PEG ratio of 2.24. 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. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.07 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% 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.
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MP Materials Corp. (MP) : Free Stock Analysis Report
