MP Materials (NYSE:MP) Trading Down 3.2% - Here's What Happened

Key Points

• MP Materials Corp. shares fell 3.2% to $62.04 amid reduced trading volume, indicating a sharp decline from the previous average session volume.
• Analysts have varied opinions, with price targets ranging from $33.00 to $69.00, resulting in a consensus rating of "Moderate Buy."
• The company reported quarterly earnings with a loss of ($0.12) EPS, missing expectations and reflecting a negative net margin of 48.41%.

MP Materials Corp. (NYSE:MP - Get Free Report) shares were down 3.2% during mid-day trading on Tuesday . The company traded as low as $61.80 and last traded at $62.04. Approximately 4,975,554 shares traded hands during trading, a decline of 43% from the average daily volume of 8,766,302 shares. The stock had previously closed at $64.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MP shares. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the stock an "equal weight" rating in a report on Thursday. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday. Finally, Canaccord Genuity Group increased their price target on MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.78.

MP Materials Stock Up 3.1%

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 company has a market capitalization of $10.37 billion, a PE ratio of -97.19 and a beta of 2.26. The stock has a 50-day moving average of $38.38 and a 200 day moving average of $28.72.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly 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 business had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The business's revenue was up 24.9% compared to the same quarter last year. Sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Institutional Trading of MP Materials

A number of large investors have recently bought and sold shares of MP. Highline Wealth Partners LLC purchased a new stake in MP Materials in the second quarter worth $25,000. AdvisorNet Financial Inc increased its position in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after buying an additional 506 shares during the last quarter. NBC Securities Inc. increased its position in MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,199 shares during the last quarter. MAI Capital Management increased its position in MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after buying an additional 800 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials in the first quarter worth $35,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.