Shares of MP Materials (MP, Financial) experienced a significant rise, climbing 10% or $4.79 following the announcement of a substantial $500 million investment from Apple. This strategic investment forms part of a long-term agreement in which MP will provide Apple with rare earth magnets produced in the United States using entirely recycled materials. As a result, MP shares have reached their highest level in three years, reflecting the market’s favorable response to this partnership.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for MP Materials Corp (MP, Financial) is $37.46 with a high estimate of $55.00 and a low estimate of $20.00. The average target implies an downside of 22.79% from the current price of $48.52. More detailed estimate data can be found on the MP Materials Corp (MP) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, MP Materials Corp's (MP, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MP Materials Corp (MP, Financial) in one year is $27.65, suggesting a downside of 43.01% from the current price of $48.52. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MP Materials Corp (MP) Summary page.
