MP Materials (NYSE:MP) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings reaffirmed a "sell (D-)" rating for MP Materials, indicating potential concerns about the company's stock performance.
• Despite the negative rating from Weiss, several brokerages, including Cowen and DA Davidson, issued positive ratings with price targets ranging from $64 to $82 for MP Materials.
• MP Materials reported a revenue increase of 83.6% year-over-year, reaching $57.39 million, while earnings per share (EPS) was slightly better than expected at ($0.13).

MP Materials (NYSE:MP - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also issued reports on MP. Cowen reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their price target on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. DA Davidson lifted their price target on MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.78.

MP Materials Stock Down 4.3%

Shares of MP Materials stock opened at $70.57 on Wednesday. The stock has a 50-day moving average price of $69.40 and a 200 day moving average price of $44.31. The company has a market cap of $12.50 billion, a P/E ratio of -112.02 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials has a 1 year low of $15.56 and a 1 year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business's revenue for the quarter was up 83.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. As a group, analysts expect that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Ballentine Partners LLC bought a new position in shares of MP Materials in the 2nd quarter valued at approximately $241,000. GAMMA Investing LLC raised its stake in shares of MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after acquiring an additional 1,975 shares in the last quarter. Strs Ohio bought a new position in shares of MP Materials in the 1st quarter valued at approximately $687,000. Exchange Traded Concepts LLC bought a new position in MP Materials in the 2nd quarter worth approximately $7,479,000. Finally, Amundi increased its position in MP Materials by 561.2% in the 1st quarter. Amundi now owns 80,662 shares of the company's stock worth $2,002,000 after buying an additional 68,462 shares during the period. 52.55% of the stock is owned by institutional investors.

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.

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