MP Materials (NYSE:MP) Stock Falls 2.4% – Should You Sell?

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

Analysts Set New Price Targets

MP has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a report on Monday, August 24th. Needham & Company LLC lowered their target price on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Citigroup reiterated a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.92.

MP Materials Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. The stock has a 50 day simple moving average of $49.57 and a two-hundred day simple moving average of $54.24. The company has a market cap of $6.66 billion, a PE ratio of -109.93 and a beta of 1.98.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The company’s revenue was up 89.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) earnings per share. Equities analysts predict that MP Materials Corp. will post -0.20 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Several hedge funds have recently made changes to their positions in the business. Guardian Investment Management raised its stake in MP Materials by 10.3% during the 3rd quarter. Guardian Investment Management now owns 8,000 shares of the company’s stock valued at $378,000 after acquiring an additional 750 shares during the last quarter. Corecam Pte. Ltd. raised its stake in shares of MP Materials by 23.2% during the third quarter. Corecam Pte. Ltd. now owns 9,483 shares of the company’s stock worth $448,000 after purchasing an additional 1,785 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of MP Materials by 5.9% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,213 shares of the company’s stock worth $294,000 after purchasing an additional 348 shares during the period. Inspire Investing LLC grew its position in MP Materials by 13.3% in the 3rd quarter. Inspire Investing LLC now owns 12,892 shares of the company’s stock valued at $610,000 after buying an additional 1,509 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in MP Materials by 3.2% in the 3rd quarter. Yousif Capital Management LLC now owns 38,499 shares of the company’s stock valued at $1,821,000 after buying an additional 1,204 shares during the period. 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.