MP Materials (NYSE:MP) Trading Down 2.8% - What's Next?

MP Materials Corp. (NYSE:MP - Get Free Report)'s share price dropped 2.8% on Monday . The company traded as low as $36.72 and last traded at $36.68. Approximately 2,946,200 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 4,540,661 shares. The stock had previously closed at $37.74.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MP. JPMorgan Chase & Co. lowered their price target on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. BMO Capital Markets upped their target price on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Robert W. Baird increased their target price on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. DA Davidson boosted their price target on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Finally, Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.06.

MP Materials Trading Down 3.2%

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 cap of $5.97 billion, a price-to-earnings ratio of -56.22 and a beta of 2.14. The firm has a 50 day moving average price of $25.02 and a two-hundred day moving average price of $23.15.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 18,519 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the transaction, the chief executive officer now directly owns 13,842,256 shares in the company, valued at approximately $373,740,912. This represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in MP Materials in the fourth quarter worth $6,284,000. Proficio Capital Partners LLC bought a new position in shares of MP Materials during the 4th quarter worth about $399,000. KLP Kapitalforvaltning AS acquired a new stake in shares of MP Materials in the 4th quarter valued at about $388,000. Invesco Ltd. grew its stake in shares of MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after buying an additional 7,453 shares during the period. Finally, New York State Teachers Retirement System increased its position in MP Materials by 7.3% in the 4th quarter. New York State Teachers Retirement System now owns 99,900 shares of the company's stock valued at $1,558,000 after buying an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

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.