Yahoo Finance MP Materials Corp. (MP) Gains As Market Dips: What You Should Know
MP Materials Corp. (MP) closed the most recent trading day at $26.70, moving +0.64% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the company had lost 26.49% over the past month, lagging the Basic Materials sector's loss of 2.06% and the S&P 500's gain of 0.07% in that time.
Investors will be hoping for strength from MP Materials Corp. as it approaches its next earnings release. The company is expected to report EPS of $0.19, down 62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $92.93 million, down 44.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.75 per share and revenue of $408.46 million, which would represent changes of -55.36% and -22.57%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MP Materials Corp.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 5.76% lower. MP Materials Corp. currently has a Zacks Rank of #3 (Hold).
Investors should also note MP Materials Corp.'s current valuation metrics, including its Forward P/E ratio of 35.37. This represents a premium compared to its industry's average Forward P/E of 9.99.
It is also worth noting that MP currently has a PEG ratio of 2.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 2.08 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 143, putting it in the bottom 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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MP Materials Corp. (MP) : Free Stock Analysis Report
