MP Stock Summary and Trading Ideas (MP Materials Corp. | NYSE:MP)

MP Materials Corp is the producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site of scale in North America.

MP Materials Corp. trades on the NYSE stock market under the symbol MP.

As of April 19, 2024, MP stock price climbed to $16.59 with 377,095 million shares trading.

MP has a beta of 0.99, meaning it tends to be less sensitive to market movements. MP has a correlation of 0.06 to the broad based SPY ETF.

MP has a market cap of $2.75 billion. This is considered a Mid Cap stock.

Last quarter MP Materials Corp. reported $41 million in Revenue and -$.02 earnings per share. This fell short of revenue expectation by $-5 million and exceeded earnings estimates by $.02.

In the last 3 years, MP stock traded as high as $60.19 and as low as $12.68.

The top ETF exchange traded funds that MP belongs to (by Net Assets): XME, IJH, VTI, VB, VXF.

MP has underperformed the market in the last year with a return of -36.9%, while the SPY ETF gained +22.0%. In the last 3 month period, MP fell short of the market, returning +4.6%, while SPY returned +4.9%. However, in the most recent 2 weeks MP has outperformed the stock market by returning +12.6%, while SPY returned -2.8%.

MP support price is $15.85 and resistance is $17.07 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MP stock will trade within this expected range on the day.