JPMorgan Chase & Co. Downgrades MP Materials (NYSE:MP) to Neutral

MP Materials (NYSE:MP - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Tuesday, MarketBeat reports. They presently have a $16.00 target price on the stock, down from their previous target price of $20.00. JPMorgan Chase & Co.'s price objective indicates a potential upside of 0.88% from the stock's previous close.

A number of other analysts also recently weighed in on MP. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, April 11th. Canaccord Genuity Group dropped their price target on shares of MP Materials from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Morgan Stanley cut shares of MP Materials from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their price target on shares of MP Materials from $36.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.64.

MP Materials Price Performance

NYSE MP traded down $0.06 on Tuesday, reaching $15.86. The company had a trading volume of 2,732,143 shares, compared to its average volume of 3,607,260. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.82 billion, a PE ratio of 122.01 and a beta of 2.42. The firm's 50 day moving average price is $15.27 and its 200 day moving average price is $16.41. MP Materials has a 12 month low of $12.68 and a 12 month high of $26.53.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The company had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. As a group, equities analysts predict that MP Materials will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of MP Materials by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company's stock valued at $270,669,000 after acquiring an additional 254,881 shares during the last quarter. Van ECK Associates Corp boosted its holdings in MP Materials by 15.2% during the fourth quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company's stock worth $61,976,000 after buying an additional 411,771 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company's stock worth $58,756,000 after buying an additional 614,088 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company's stock worth $45,956,000 after buying an additional 860,960 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in MP Materials by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company's stock worth $43,803,000 after buying an additional 246,534 shares in the last quarter. Institutional investors 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.