MP Materials (NYSE:MP) Stock Price Down 3.1%

MP Materials Corp. (NYSE:MP - Get Free Report) traded down 3.1% on Thursday . The company traded as low as $16.85 and last traded at $16.87. 577,727 shares traded hands during trading, a decline of 84% from the average session volume of 3,635,607 shares. The stock had previously closed at $17.41.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley downgraded shares of MP Materials from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lowered their target price on shares of MP Materials from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday. Jefferies Financial Group lowered their target price 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. Finally, Canaccord Genuity Group lowered their target price 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, MP Materials has an average rating of "Moderate Buy" and an average target price of $25.19.

MP Materials Trading Down 0.7 %

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 $3.08 billion, a P/E ratio of 133.00 and a beta of 2.41. The firm's 50 day simple moving average is $15.29 and its two-hundred day simple moving average is $16.55.

MP Materials (NYSE:MP - Get Free Report) last posted 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). The firm had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. As a group, analysts forecast that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in shares of MP Materials during the fourth quarter valued at about $26,000. TFO Wealth Partners LLC grew its holdings in shares of MP Materials by 153,700.0% during 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 last quarter. CWM LLC grew its holdings in shares of MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company's stock valued at $33,000 after buying an additional 766 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of MP Materials by 120.6% during 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 last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company's stock valued at $41,000 after buying an additional 1,985 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

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.