MP Materials (NYSE:MP) Trading Up 9.8%

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) were up 9.8% during mid-day trading on Tuesday . The company traded as high as $17.97 and last traded at $17.96. Approximately 894,451 shares changed hands during trading, a decline of 74% from the average daily volume of 3,464,230 shares. The stock had previously closed at $16.35.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MP. Benchmark reiterated a "buy" rating and issued a $30.00 price target on shares of MP Materials in a report on Tuesday. Jefferies Financial Group lowered 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. JPMorgan Chase & Co. cut MP Materials from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Morgan Stanley lowered shares of MP Materials from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.64.

MP Materials Price Performance

The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The company's fifty day moving average is $15.35 and its 200 day moving average is $16.27. The stock has a market cap of $3.05 billion, a PE ratio of -117.99 and a beta of 2.31.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently added to or reduced their stakes in MP. GAMMA Investing LLC bought a new stake in MP Materials in the fourth quarter valued at about $26,000. TFO Wealth Partners LLC boosted its stake in shares of MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company's stock valued at $31,000 after buying an additional 1,537 shares during the period. CWM LLC lifted its stake in MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company's stock valued at $33,000 after purchasing an additional 766 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company's stock worth $33,000 after purchasing an additional 2,224 shares during the period. Finally, Fifth Third Bancorp lifted its stake in MP Materials by 120.6% in the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company's stock valued at $40,000 after buying an additional 1,134 shares during the period. 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.