MP Materials (NYSE:MP) Stock Price Down 1.3% - Time to Sell?

MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price dropped 1.3% on Thursday . The stock traded as low as $60.16 and last traded at $60.36. Approximately 2,690,007 shares changed hands during trading, a decline of 69% from the average daily volume of 8,722,194 shares. The stock had previously closed at $61.14.

Wall Street Analyst Weigh In

MP has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday. Canaccord Genuity Group lifted their target price on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Robert W. Baird lifted their target price on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.11.

MP Materials Price Performance

The firm has a market cap of $10.18 billion, a PE ratio of -95.52 and a beta of 2.26. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average price of $34.26 and a two-hundred day moving average price of $27.27.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results 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 net margin of 48.41% and a negative return on equity of 9.77%. The firm had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same quarter in the prior year, the company earned ($0.04) EPS. MP Materials's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in MP Materials by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock valued at $412,000 after acquiring an additional 358 shares during the period. JT Stratford LLC raised its stake in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after buying an additional 424 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of MP Materials by 3.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company's stock worth $413,000 after buying an additional 458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after buying an additional 479 shares during the period. Finally, CWM LLC raised its stake in shares of MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after buying an additional 505 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

About MP Materials

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.