MP Materials (NYSE:MP) Stock Gets Price Target Reduction from Barclays

MP Materials (NYSE:MP) had its price objective lowered by Barclays from $65.00 to $54.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on MP. Morgan Stanley lowered their price objective 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. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Zacks Research cut shares of MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating on shares of MP Materials in a report on Tuesday, September 8th. Finally, Robert W. Baird decreased their target price on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

MP Materials Stock Up 1.0%

Shares of MP Materials stock opened at $36.81 on Monday. The business’s 50 day simple moving average is $44.57 and its 200 day simple moving average is $53.98. MP Materials has a 52-week low of $31.90 and a 52-week high of $76.80. The firm has a market cap of $6.56 billion, a PE ratio of -167.32 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.04 and a current ratio of 6.75.

MP Materials (NYSE:MP) last released its earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. MP Materials had a negative return on equity of 0.05% and a negative net margin of 9.90%. The firm had revenue of $147.66 million for the quarter, compared to analysts’ expectations of $117.37 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The business’s quarterly revenue was up 175.7% compared to the same quarter last year. On average, analysts predict that MP Materials will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in MP Materials by 5.1% during the second quarter. State Street Corp now owns 7,773,746 shares of the company’s stock valued at $435,408,000 after purchasing an additional 376,519 shares during the last quarter. Voya Investment Management LLC grew its stake in MP Materials by 72.4% in the third quarter. Voya Investment Management LLC now owns 1,482,169 shares of the company’s stock valued at $70,092,000 after purchasing an additional 622,641 shares in the last quarter. Bank of New York Mellon Corp bought a new position in MP Materials in the second quarter valued at approximately $65,230,000. Principal Financial Group Inc. increased its position in shares of MP Materials by 32.4% during the 1st quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock worth $44,355,000 after purchasing an additional 225,009 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of MP Materials by 26.0% during the 3rd quarter. Alps Advisors Inc. now owns 763,110 shares of the company’s stock worth $36,087,000 after purchasing an additional 157,272 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Top MP Materials Stories

Here are a few of the latest stories about MP:

• Positive Sentiment: Freedom Broker upgraded MP from “hold” to “buy” and set a $51 price target, citing valuation and expected manufacturing cost savings. Article: MP Stock Rises Overnight After Freedom Broker’s Upgrade
• Neutral Sentiment: China extended its rare-earth export reprieve, easing near-term supply concerns, while lawmakers are considering tighter oversight of U.S. government involvement in rare-earth supply chains. Article: MP Materials Heads For Review As $400 Million Federal Stake Draws Scrutiny
• Negative Sentiment: Other coverage included a pessimistic Canaccord forecast and a Barclays price-target reduction, adding to concerns about valuation and the stock’s outlook. Article: MP Materials Stock Price Target Lowered at Barclays

MP Materials Company Profile

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.