MP Materials (NYSE:MP) Stock Price Down 5.2% – What’s Next?

MP Materials Corp. (NYSE:MP)’s stock price traded down 5.2% on Wednesday. The stock traded as low as $35.56 and last traded at $35.85. 8,060,461 shares traded hands during trading, an increase of 27% from the average daily volume of 6,325,198 shares. The stock had previously closed at $37.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Zacks Research cut shares of MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. Freedom Broker began coverage on shares of MP Materials in a research note on Wednesday, September 16th. They set a “hold” rating and a $57.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Needham & Company LLC cut their target price on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “positive” rating on shares of MP Materials in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.92.

MP Materials Stock Performance

The stock has a market capitalization of $6.38 billion, a PE ratio of -105.44 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The firm has a 50 day moving average of $47.12 and a 200-day moving average of $54.93.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The business’s revenue for the quarter was up 89.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. Research analysts forecast that MP Materials Corp. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MP. AlphaCore Capital LLC raised its holdings in MP Materials by 55.2% during the third quarter. AlphaCore Capital LLC now owns 8,060 shares of the company’s stock valued at $381,000 after buying an additional 2,868 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of MP Materials by 10.3% in the third quarter. Retirement Systems of Alabama now owns 154,311 shares of the company’s stock worth $7,297,000 after buying an additional 14,376 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of MP Materials during the 3rd quarter worth about $137,000. 180 Wealth Advisors LLC boosted its stake in shares of MP Materials by 6.0% during the 3rd quarter. 180 Wealth Advisors LLC now owns 29,427 shares of the company’s stock worth $1,392,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of MP Materials by 45.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 109,473 shares of the company’s stock worth $5,177,000 after acquiring an additional 33,965 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

About MP Materials

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.