MP Materials (NYSE:MP) Shares Down 1.2% - What's Next?

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) were down 1.2% during mid-day trading on Tuesday . The stock traded as low as $56.70 and last traded at $58.30. Approximately 6,446,143 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 6,131,556 shares. The stock had previously closed at $59.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday. Jefferies Financial Group reissued a "hold" rating and set a $33.00 price objective (up from $32.00) on shares of MP Materials in a research report on Monday, July 7th. Canaccord Genuity Group upped their price target on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.67.

MP Materials Stock Performance

The firm has a market capitalization of $9.84 billion, a P/E ratio of -92.25 and a beta of 2.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. The stock has a 50-day moving average of $31.11 and a 200 day moving average of $26.23.

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 the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same period in the previous year, the business posted ($0.04) EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. On average, research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On MP Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in MP. Highline Wealth Partners LLC bought a new stake in MP Materials during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc boosted its holdings in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after purchasing an additional 506 shares during the period. NBC Securities Inc. boosted its holdings in MP Materials by 119,900.0% in 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 during the period. MAI Capital Management boosted its holdings in MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after purchasing an additional 800 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials during the 1st quarter valued at $35,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

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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