MP Materials (NYSE:MP) Shares Gap Down to $15.92

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $15.92, but opened at $15.28. MP Materials shares last traded at $15.90, with a volume of 616,559 shares trading hands.

Analyst Ratings Changes

MP has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on MP Materials from $36.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group reduced their price target on MP Materials from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, March 13th. Morgan Stanley downgraded MP Materials from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft cut their price objective on MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. downgraded MP Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $20.00 to $16.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.64.

MP Materials Stock Performance

The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 122.39 and a beta of 2.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The firm has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $16.42.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of MP Materials by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company's stock worth $270,669,000 after buying an additional 254,881 shares in the last quarter. Van ECK Associates Corp lifted its stake 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 purchasing an additional 411,771 shares during the last quarter. Baillie Gifford & Co. lifted its stake 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 purchasing an additional 614,088 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 860,960 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 246,534 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Company Profile

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.