MP Materials Stock Rises After Deutsche Bank Upgrade

MP Materials Corp. (NYSE:MP) shares are trading higher Monday after Deutsche Bank upgraded the stock to a Buy rating and raised its price target to $71.

What To Know: The analyst change comes following the company’s third quarter earnings report.

MP Materials reported an adjusted loss of 10 cents per share, beating the consensus estimate of an 18 cent-loss. In addition, the company reported sales of $53.55 million, missing the consensus estimate of $54.91 million.

MP Materials ended the quarter with $1.94 billion in cash, cash equivalents and short-term investments.

The company achieved a record output of 721 metric tons of NdPr, marking a 51% increase from the same period last year. It also reported its second-highest quarterly REO production at 13,254 metric tons.

“MP Materials delivered another strong quarter, achieving record NdPr oxide production at Mountain Pass and record NdPr metal output at Independence,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. 

How To Buy MP Materials Stock

By now you’re likely curious about how to participate in the market for MP Materials – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

Related Link: Occidental Petroleum Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

MP Price Action: At the time of writing, MP Materials shares are trading 11.63% higher at $65.48, according to data from Benzinga Pro.

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