MP Materials (NYSE:MP) Shares Down 2.4% – What’s Next?

MP Materials Corp. (NYSE:MP)’s stock price fell 2.4% during mid-day trading on Monday. The stock traded as low as $37.30 and last traded at $37.3770. Approximately 5,383,239 shares were traded during mid-day trading, a decline of 15% from the average session volume of 6,360,665 shares. The stock had previously closed at $38.30.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MP. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. Needham & Company LLC cut their target price on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Morgan Stanley reduced their target price on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, October 15th. Finally, Freedom Broker started coverage on shares of MP Materials in a research note on Wednesday, September 16th. They set a “hold” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $71.92.

MP Materials Price Performance

The company has a 50-day moving average of $48.88 and a two-hundred day moving average of $55.55. The stock has a market capitalization of $7.30 billion, a PE ratio of -120.55 and a beta of 1.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period last year, the company earned ($0.13) EPS. The firm’s quarterly revenue was up 89.0% on a year-over-year basis. Sell-side analysts predict that MP Materials Corp. will post -0.20 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp boosted its holdings in shares of MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Mather Group LLC. grew its stake in shares of MP Materials by 390.6% during the 3rd quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after buying an additional 543 shares during the period. Markowski Investments purchased a new stake in shares of MP Materials during the 2nd quarter valued at $43,000. MADDEN SECURITIES Corp purchased a new stake in shares of MP Materials during the 3rd quarter valued at $46,000. Finally, Archer Investment Corp increased its holdings in shares of MP Materials by 990.1% during the 1st quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock worth $53,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.