MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $31.84, but opened at $30.54. MP Materials shares last traded at $30.66, with a volume of 1,324,111 shares traded.
Wall Street Analyst Weigh In
MP has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $33.00 target price (up from $32.00) on shares of MP Materials in a research report on Monday. JPMorgan Chase & Co. reduced their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. BMO Capital Markets raised their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Finally, DA Davidson raised their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.06.
Check Out Our Latest Research Report on MP
MP Materials Trading Down 2.3%
The firm has a 50-day moving average price of $26.52 and a two-hundred day moving average price of $24.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58.
MP Materials (NYSE:MP - Get Free Report) last released 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). The business had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm's revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.
Insider Buying and Selling
In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer directly owned 13,643,076 shares of the company's stock, valued at $369,454,498.08. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.60% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC raised its position in MP Materials by 51.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company's stock valued at $50,000 after purchasing an additional 510 shares during the period. Goldman Sachs Group Inc. grew its position in MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company's stock valued at $4,734,000 after acquiring an additional 51,348 shares in the last quarter. Strs Ohio acquired a new stake in shares of MP Materials during the first quarter worth about $687,000. Bayforest Capital Ltd boosted its stake in shares of MP Materials by 314.6% in the first quarter. Bayforest Capital Ltd now owns 7,205 shares of the company's stock valued at $176,000 after purchasing an additional 5,467 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after buying an additional 1,257,282 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
MP Materials Company Profile
(
Get Free Report)
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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