Why You Need MP Materials Corp. (MP) On Your Watchlist

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MP Materials Corp. (NYSE:MP) saw a downside of -2.52% to $30.00 after subtracting -$0.78 on Tuesday. The 5-day average trading volume is 1,419,231 shares of the company’s common stock. It has gained $30.93 in the past week and touched a new high 2 times within the past 5 days. An average of 2,050,593 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,010,593.

MP’s 1-month performance is 7.81% or $5.02 on its low of $23.50 reached on 12/28/22. The company’s shares have touched a 52-week low of $23.50 and high of $60.19, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, MP has achieved 26.77% or $5.76 and has reached a new high 11 times. However, the current price is down -50.15% from the 52-week high price.

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Insider Transactions

MP stock investors last saw insider trading activity on Dec 14.Gold Daniel Allen (Director) most recently sold 53,702 shares at $31.62 per share on Dec 14. This transaction cost the insider $1,698,057. Director by Deputization, QVT Financial LP, sold 53,702 shares at a price of $31.62 on Dec 14. Then, on Dec 13, Director by Deputization QVT Financial LP sold 100,000 shares at a price of $31.75 per share. This transaction amounted to $3,175,000.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.73 while the price-to-book (PB) in the most recent quarter is 4.37, with the price to cash flow ratio at 55.13.

MP Materials Corp.’s quick ratio for the period ended September 29 was 17.30, with the current ratio over the same period at 18.20. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.55, while the total debt to equity was 0.55. In terms of profitability, the gross margin trailing 12 months is 83.90%. The firm’s gross profit as reported stood at $255.7 million against revenue of $331.95 million.

Earnings Surprise

For the quarterly period ending September 29 this year, MP Materials Corp.’s cash and short-term investments amounted to $836.29 million against total debt of $685.33 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 32.32% to $63.18 million, while revenue of $73.27 million was -15.97% off the previous quarter. Analysts expected MP to announce $0.3 per share in earnings in its latest quarter, but it posted $0.36, representing a 20.00% surprise. EBITDA for the quarter stood at more than $81.26 million. MP stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 946.86 million, with total debt at $685.33 million. Shareholders hold equity totaling $177.54 million.

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 23 January was 61.56% to suggest the stock is trending Neutral, with historical volatility in this time period at 38.44%.

The stock’s 5-day moving average is $29.83, reflecting a +1.11% or $0.33 change from its current price. MP is currently trading +22.11% above its 20-day SMA, -12.85% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -0.36% and SMA200 by-43.68%.

Stochastic %K and %D was 92.31% and 86.99% and the average true range (ATR) pointed at 1.60. The RSI (14) points at 57.04%, while the 14-day stochastic is at 86.74% with the period’s ATR at 1.53. The stock’s 9-day MACD Oscillator is pointing at 0.71 and 1.92 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MP Materials Corp. (NYSE: MP), Canaccord Genuity launched coverage with a Buy rating.

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