MP Materials (NYSE:MP) Stock Price Down 1.4% - Time to Sell?

MP Materials Corp. (NYSE:MP - Get Free Report) shares fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $30.60 and last traded at $30.62. 1,184,008 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,711,291 shares. The stock had previously closed at $31.05.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MP. JPMorgan Chase & Co. decreased their price target on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Robert W. Baird boosted their price objective on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Jefferies Financial Group restated a "hold" rating and set a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a research report on Monday. DA Davidson boosted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average price target of $28.06.

MP Materials Price Performance

The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -48.77 and a beta of 2.26. The company has a fifty day simple moving average of $26.65 and a 200 day simple moving average of $24.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (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 for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. Equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer directly owned 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.60% of the company's stock.

Hedge Funds Weigh In On MP Materials

Institutional investors have recently modified their holdings of the business. NBC Securities Inc. lifted its stake in MP Materials by 119,900.0% in the first 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 last quarter. MAI Capital Management lifted its position in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials during the first quarter worth $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials during the first quarter worth $35,000. Finally, Quadrant Capital Group LLC lifted its position in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after acquiring an additional 701 shares in the last quarter. 52.55% of the stock is owned by 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.

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