MP Materials Corp. (NYSE:MP - Get Free Report)'s share price traded down 2.8% during trading on Tuesday . The stock traded as low as $35.54 and last traded at $35.54. 2,994,698 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 4,564,647 shares. The stock had previously closed at $36.56.
Analyst Ratings Changes
Several research firms recently issued reports on MP. BMO Capital Markets boosted their price target on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased their price target on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Robert W. Baird boosted their price objective on shares of MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Finally, DA Davidson increased their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.44.
Check Out Our Latest Research Report on MP
MP Materials Stock Down 8.7%
The firm's 50-day moving average price is $25.57 and its 200 day moving average price is $23.42. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of -50.54 and a beta of 2.14.
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). 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 the consensus estimate of $64.74 million. During the same period last year, the business earned ($0.04) earnings per share. The business's revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.
Insider Transactions at MP Materials
In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the sale, the chief executive officer now owns 13,643,076 shares in the company, valued at $369,454,498.08. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 9.50% of the stock is owned by insiders.
Institutional Investors Weigh In On MP Materials
Several hedge funds have recently modified their holdings of MP. Goldman Sachs Group Inc. raised its holdings 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 buying an additional 51,348 shares during the last quarter. Strs Ohio bought a new position in shares of MP Materials during the first quarter valued at $687,000. Bayforest Capital Ltd lifted its holdings in shares of MP Materials by 314.6% during the first quarter. Bayforest Capital Ltd now owns 7,205 shares of the company's stock worth $176,000 after purchasing an additional 5,467 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MP Materials by 429.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock worth $37,839,000 after purchasing an additional 1,257,282 shares during the period. Finally, Yaupon Capital Management LP bought a new stake in shares of MP Materials in the first quarter worth $4,953,000. Institutional investors and hedge funds own 52.55% of the company's stock.
About MP Materials
(
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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