01:40 PM EDT, 05/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target of $24 implies an EV/EBITDA multiple of 21.0x our 2025 EBITDA estimate vs. MP's three-year average forward EV/EBITDA of 26.2x. We lower our 2024 EPS estimate by $0.68 to a loss per share of -$0.20 and our 2025 EPS forecast by $1.05 to $0.53. MP posted a Q1 adj. loss per share of -$0.04 vs. EPS of $0.27, $0.01 below consensus; sales beat consensus by 3%. Q1 production of 11,151 metric tons (MT) of rare earth oxide (REO) was up 4.5% Y/Y and up 20% sequentially. The realized REO price in Q1 was $4,294 per MT, down 54% Y/Y and down 24% Q/Q. Q1 sales volume of 9,332 MT was 16.3% below production, due to stockpiling required to scale-up NdPr seperation. MP is currently suffering from low prices (both REO and NdPr) and lower profits driven by investing in working capital for NdPr separation and ongoing investment in magnetics. We think MP is very compelling as we see a high probability that prices will rebound later in 2024, which is a catalyst that should send MP shares significantly higher.