MP Materials (NYSE:MP) Shares Up 4.3%

MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price shot up 4.3% during mid-day trading on Tuesday . The company traded as high as $16.89 and last traded at $16.71. 1,222,099 shares were traded during mid-day trading, a decline of 65% from the average session volume of 3,488,935 shares. The stock had previously closed at $16.02.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MP. Jefferies Financial Group reduced their price objective on MP Materials from $36.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft increased their price target on MP Materials from $14.00 to $17.00 and gave the stock a "hold" rating in a research note on Friday, March 8th. JPMorgan Chase & Co. cut their price target on MP Materials from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Morgan Stanley downgraded MP Materials from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, Canaccord Genuity Group dropped their price objective on MP Materials from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.44.

MP Materials Trading Up 9.0 %

The firm has a fifty day simple moving average of $15.24 and a two-hundred day simple moving average of $16.53. The stock has a market cap of $3.11 billion, a PE ratio of 134.32 and a beta of 2.42. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50.

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

Hedge Funds Weigh In On MP Materials

A number of large investors have recently modified their holdings of MP. Vanguard Group Inc. raised its holdings in shares of MP Materials by 25.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company's stock valued at $255,574,000 after buying an additional 2,697,925 shares in the last quarter. State Street Corp raised its holdings in shares of MP Materials by 56.2% during the 1st quarter. State Street Corp now owns 4,806,550 shares of the company's stock valued at $275,608,000 after buying an additional 1,729,193 shares in the last quarter. BlackRock Inc. raised its holdings in shares of MP Materials by 29.1% during the 1st quarter. BlackRock Inc. now owns 6,398,647 shares of the company's stock valued at $366,898,000 after buying an additional 1,441,580 shares in the last quarter. Renaissance Technologies LLC grew its position in MP Materials by 925.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company's stock worth $89,949,000 after acquiring an additional 1,415,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in MP Materials by 59.2% in the 4th 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 period. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.