JPMorgan Chase & Co. Has Lowered Expectations for MP Materials (NYSE:MP) Stock Price

MP Materials (NYSE:MP - Free Report) had its price objective cut by JPMorgan Chase & Co. from $21.00 to $18.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

MP has been the topic of several other research reports. DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. BMO Capital Markets increased their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus price target of $23.61.

MP Materials Trading Up 0.3%

Shares of MP Materials stock traded up $0.07 during midday trading on Monday, reaching $21.15. 788,946 shares of the company's stock traded hands, compared to its average volume of 3,706,112. The company has a market cap of $3.46 billion, a PE ratio of -35.87 and a beta of 2.24. The stock has a 50 day moving average of $24.59 and a 200-day moving average of $21.91. MP Materials has a 12 month low of $10.02 and a 12 month high of $29.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The business's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts expect that MP Materials will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 161,175 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $4,342,054.50. Following the sale, the chief executive officer now owns 14,352,689 shares of the company's stock, valued at approximately $386,661,441.66. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 943,792 shares of company stock worth $25,286,567 in the last ninety days. 12.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MP Materials

Several institutional investors have recently made changes to their positions in MP. NBC Securities Inc. increased its stake in MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials during the 1st quarter worth $35,000. Quadrant Capital Group LLC boosted its stake in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after purchasing an additional 701 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials in the fourth quarter valued at about $40,000. Institutional investors own 52.55% of the company's stock.

MP Materials Company Profile

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.