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MP Materials Corp. (MP) Gains As Market Dips: What You Should Know

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MP Materials Corp. (MP - Free Report) ended the recent trading session at $16.55, demonstrating a +0.18% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.48%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw a decrease of 0.82%.

The company's shares have seen an increase of 4.16% over the last month, surpassing the Basic Materials sector's loss of 2.27% and falling behind the S&P 500's gain of 5.3%.

Investors will be eagerly watching for the performance of MP Materials Corp. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 22, 2024. On that day, MP Materials Corp. is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 107.14%. Meanwhile, our latest consensus estimate is calling for revenue of $48.24 million, down 48.27% from the prior-year quarter.

It's also important for investors to be aware of any recent modifications to analyst estimates for MP Materials Corp. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 19.23% decrease. As of now, MP Materials Corp. holds a Zacks Rank of #4 (Sell).

In the context of valuation, MP Materials Corp. is at present trading with a Forward P/E ratio of 37.54. This denotes a premium relative to the industry's average Forward P/E of 12.13.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 to follow these and more stock-moving metrics during the upcoming trading sessions.

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