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

MP Materials Corp. (NYSE:MP)’s share 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MP. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Canaccord Genuity Group reduced their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut shares of MP Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Tuesday. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group reduced their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $23.64.

MP Materials Trading Up 0.1 %

The business’s 50-day moving average price is $15.26 and its 200 day moving average price is $16.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 122.39 and a beta of 2.42.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $47.40 million. On average, equities analysts forecast that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

Several institutional investors have recently added to or reduced their stakes in MP. GAMMA Investing LLC acquired a new stake in MP Materials in the fourth quarter valued at $26,000. TFO Wealth Partners LLC raised its holdings in MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after acquiring an additional 1,537 shares in the last quarter. CWM LLC raised its holdings in MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after acquiring an additional 766 shares in the last quarter. Fifth Third Bancorp raised its holdings in MP Materials by 120.6% in the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in MP Materials by 2,335.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after acquiring an additional 1,985 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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.