MP Materials (NYSE:MP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded MP Materials from “hold” to “sell,” despite the broader analyst consensus remaining “Moderate Buy” with a $75 target price.
• MP Materials opened at $46.15, well below its 52-week high of $100.25, and has a market capitalization of approximately $8.22 billion.
• The company reported quarterly revenue of $108.49 million, up 89% year over year, but remained unprofitable with negative net margins and analysts forecasting a full-year loss.

MP Materials (NYSE:MP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday, Wall Street Zen reports.

MP has been the topic of a number of other reports. Robert W. Baird dropped their price objective on shares of MP Materials from $80.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday, October 1st. Citigroup reiterated a "positive" rating on shares of MP Materials in a research note on Wednesday, July 15th. DA Davidson reissued a "buy" rating and set a $82.00 price target on shares of MP Materials in a report on Monday, August 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MP Materials in a research note on Friday, July 17th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of MP Materials in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

MP Materials Trading Up 0.0%

MP opened at $46.15 on Friday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -135.72 and a beta of 1.98. MP Materials has a 52 week low of $37.81 and a 52 week high of $100.25. The business's 50 day moving average is $51.86 and its two-hundred day moving average is $54.95. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The business had revenue of $108.49 million for the quarter, compared to analysts' expectations of $96.89 million. During the same period in the previous year, the company posted ($0.13) EPS. The company's quarterly revenue was up 89.0% on a year-over-year basis. On average, research analysts predict that MP Materials will post -0.18 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Several institutional investors have recently made changes to their positions in the stock. EMC Capital Management purchased a new position in shares of MP Materials during the 4th quarter worth about $25,000. Toth Financial Advisory Corp raised its holdings in shares of MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company's stock worth $29,000 after purchasing an additional 220 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of MP Materials in the 4th quarter worth about $36,000. Markowski Investments acquired a new position in shares of MP Materials in the 2nd quarter valued at about $43,000. Finally, Archer Investment Corp grew its holdings in shares of MP Materials by 990.1% during the 1st quarter. Archer Investment Corp now owns 1,101 shares of the company's stock worth $53,000 after purchasing an additional 1,000 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

About MP Materials

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.

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