A Technical View of the MP Materials Corp. (MP)

MP Materials Corp. (NYSE:MP) saw an upside of 3.53% to close Tuesday at $31.99 after adding $1.09 on the day. The 5-day average trading volume is 1,759,720 shares of the company’s common stock. It has gained $32.16 in the past week. An average of 2,309,230 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,412,546.

MP’s 1-month performance is -10.19% or -$2.12 on its low of $28.85 reached on 10/06/21. The company’s shares have touched a 52-week low of $10.80 and high of $51.77, with the stock’s rally to the 52-week high happening on 03/02/21. YTD, MP has lost -0.56% or -$0.18. However, the current price is down -38.21%% from the 52-week high price.


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Insider Transactions

On Sep 16, 27 days have gone by since the last insider trading activity for MP Materials Corp. (MP). QVT Financial LP (Director by Deputization) most recently sold 1,095,612 shares at $34.62 per share on Sep 16. This transaction cost the insider $37,930,087. Chairman and CEO, Litinsky James H., sold 3,154,388 shares at a price of $34.62 on Sep 16. Then, on Sep 16, Director Gold Daniel Allen sold 1,095,612 shares at a price of $34.62 per share. This transaction amounted to $37,930,087.

Valuation Metrics

MP stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 21.42 while the price-to-book (PB) in the most recent quarter is 6.09.

MP Materials Corp.’s quick ratio for the period ended June 29 was 13.40, with the current ratio over the same period at 13.80 meaning that MP stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.74, while the total debt to equity was 0.79. In terms of profitability, the gross margin trailing 12 months is 61.80%. The trailing 12-month EBITDA margin is 30.60%. The firm’s gross profit as reported stood at $70.51 million against revenue of $134.31 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MP to announce $0.13 per share in earnings in its latest quarter, but it posted $0.17, representing a 30.80% surprise. EBITDA for the quarter stood at more than $39.13 million. MP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 911.33 million, with total debt at $731.36 million. Shareholders hold equity totaling $177.75 million

Technical Picture

Let’s look briefly at MP Materials Corp. (MP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 51.77% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.30%.

The stock’s 5-day moving average is $30.62, reflecting a +5.47% or $1.66 change from its current price. MP is currently trading -6.02% above its 20-day SMA, +16.54% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -15.08% and -9.91% respectively.

Stochastic %K and %D was 34.66% and 26.81% and the average true range (ATR) pointed at 1.40. The RSI (14) points at 48.63%, while the 14-day stochastic is at 49.84% with the period’s ATR at 1.47. The stock’s 9-day MACD Oscillator is pointing at 0.10 and -0.80 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MP Materials Corp. (NYSE: MP), DA Davidson launched coverage with a Buy rating. Analysts offering their rating for MP stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MP as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 5 have offered a “buy” rating.

What is MP’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $37.00 and a high of $50.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for MP Materials Corp. (MP) stock is $44.29.

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