MP Materials (NYSE:MP) Shares Gap Down to $15.92

MP Materials Corp. (NYSE:MP)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $15.92, but opened at $15.28. MP Materials shares last traded at $15.90, with a volume of 616,559 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on MP. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $16.00 in a report on Tuesday. Jefferies Financial Group lowered their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group lowered their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Morgan Stanley downgraded MP Materials from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

MP Materials Stock Up 0.1 %

The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $2.84 billion, a P/E ratio of 122.39 and a beta of 2.42. The firm has a 50-day moving average price of $15.26 and a two-hundred day moving average price of $16.42.

MP Materials (NYSE:MP) last posted its quarterly earnings data 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 return on equity of 3.86% and a net margin of 9.59%. The company had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. Equities research analysts anticipate that MP Materials Corp. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Hedge funds have recently modified their holdings of the business. Peregrine Capital Management LLC boosted its position in shares of MP Materials by 35.3% in the fourth quarter. Peregrine Capital Management LLC now owns 27,622 shares of the company’s stock valued at $548,000 after acquiring an additional 7,200 shares during the period. Vanguard Group Inc. lifted its position in MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after purchasing an additional 2,697,925 shares during the period. DekaBank Deutsche Girozentrale lifted its position in MP Materials by 1,000.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 66,000 shares of the company’s stock worth $1,351,000 after purchasing an additional 60,000 shares during the period. Baillie Gifford & Co. lifted its position in MP Materials by 26.2% in the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after purchasing an additional 614,088 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in MP Materials in the third quarter worth $1,996,000. 52.55% of the stock is owned by institutional investors.

About MP Materials

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.