MP Materials (MP) Surges 21.3%: Is This an Indication of Further Gains?

MP Materials Corp. (MP) shares rallied 21.3% in the last trading session to close at $95.06. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.4% gain over the past four weeks.MP’s shares soared as the U.S.-China trade tensions over export controls led to a rally in rare earth stocks.  President Donald Trump, on Friday, threatened to impose an additional 100% tariff on Chinese goods in response to Beijing’s curbs on exports of rare earth elements.This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -25%. Revenues are expected to be $53.14 million, down 15.6% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For MP Materials, the consensus EPS estimate for the quarter has been revised 13% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MP going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>MP Materials is part of the Zacks Mining - Miscellaneous industry. Teck Resources Ltd (TECK), another stock in the same industry, closed the last trading session 6.5% higher at $44.57. TECK has returned -0.1% in the past month.For Teck Resources, the consensus EPS estimate for the upcoming report has changed -8.4% over the past month to $0.45. This represents a change of +2.3% from what the company reported a year ago. Teck Resources currently has a Zacks Rank of #3 (Hold).Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MP Materials Corp. (MP): Free Stock Analysis Report Teck Resources Ltd (TECK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks