MP Materials Corp. (MP) Stock Moves -0.75%: What You Should Know
MP Materials Corp. (MP) closed at $17.22 in the latest trading session, marking a -0.75% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.43%. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
The company's shares have seen a decrease of 9.73% over the last month, not keeping up with the Basic Materials sector's loss of 5.28% and the S&P 500's loss of 1.55%.
The investment community will be closely monitoring the performance of MP Materials Corp. in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. The company is expected to report EPS of $0, down 100% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $50.67 million, reflecting a 59.29% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.29 per share and a revenue of $254.87 million, representing changes of -82.74% and -51.69%, respectively, from the prior year.
Any recent changes to analyst estimates for MP Materials Corp. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. MP Materials Corp. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, MP Materials Corp. is holding a Forward P/E ratio of 60.52. This indicates a premium in contrast to its industry's Forward P/E of 10.67.
We can additionally observe that MP currently boasts a PEG ratio of 3.72. 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. As the market closed yesterday, the Mining - Miscellaneous industry was having an average PEG ratio of 1.45.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 175, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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MP Materials Corp. (MP) : Free Stock Analysis Report
