MP Materials (NYSE:MP) Sees Unusually-High Trading Volume

MP Materials Corp. (NYSE:MP - Get Free Report) saw an uptick in trading volume on Monday . 1,860,659 shares traded hands during mid-day trading, a decline of 44% from the previous session's volume of 3,352,181 shares.The stock last traded at $15.83 and had previously closed at $14.61.

Wall Street Analysts Forecast Growth

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

MP Materials Trading Up 9.7 %

The company has a fifty day simple moving average of $15.22 and a 200-day simple moving average of $16.58. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 123.70 and a beta of 2.42.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $41.21 million for 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, research analysts forecast that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of MP Materials by 25.3% in 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. Kennedy Capital Management LLC bought a new stake in shares of MP Materials in the 3rd quarter valued at approximately $1,996,000. Van ECK Associates Corp grew its stake in shares of MP Materials by 20.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company's stock valued at $51,770,000 after buying an additional 452,501 shares in the last quarter. Independent Advisor Alliance bought a new stake in shares of MP Materials in the 3rd quarter valued at approximately $1,197,000. Finally, ANTIPODES PARTNERS Ltd boosted its position in MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company's stock worth $70,000 after purchasing an additional 1,855 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

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.