MP Materials (NYSE:MP) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of MP Materials (NYSE:MP) from an overweight rating to a neutral rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $16.00 price target on the stock, down from their prior price target of $20.00.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of MP Materials from an overweight rating to an equal weight rating and reduced their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Jefferies Financial Group reduced their target price on shares of MP Materials from $36.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $17.00 to $15.00 and set a hold rating for the company in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group cut their price target on shares of MP Materials from $23.00 to $22.00 and set a buy rating for the company in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $23.64.

MP Materials Stock Down 0.2 %

NYSE MP opened at $16.00 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The firm has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $16.40. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53. The stock has a market cap of $2.85 billion, a PE ratio of 123.09, a PEG ratio of 3.48 and a beta of 2.41.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The business had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. On average, research analysts forecast that MP Materials will post 0.14 EPS for the current year.

Institutional Trading of MP Materials

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of MP Materials by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock worth $270,669,000 after buying an additional 254,881 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of MP Materials by 15.2% during the fourth quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after buying an additional 411,771 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after buying an additional 614,088 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock worth $45,956,000 after buying an additional 860,960 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of MP Materials by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company’s stock worth $43,803,000 after buying an additional 246,534 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.