MP Materials (NYSE:MP) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of MP Materials (NYSE:MP) from a hold rating to a sell rating in a research note released on Saturday morning.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $75.00 to $74.00 in a report on Friday. Daiwa Capital Markets began coverage on shares of MP Materials in a research report on Monday, September 22nd. They set an “outperform” rating and a $80.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of MP Materials in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $71.00 in a research note on Monday, November 10th. Finally, Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.00.

MP Materials Price Performance

NYSE MP traded up $0.97 during trading hours on Friday, hitting $58.51. 10,287,716 shares of the company’s stock traded hands, compared to its average volume of 14,380,229. The company has a market capitalization of $10.37 billion, a PE ratio of -82.40 and a beta of 2.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials has a 52-week low of $15.56 and a 52-week high of $100.25. The firm’s 50-day moving average is $69.11 and its 200-day moving average is $52.97.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business had revenue of $53.55 million for the quarter, compared to analysts’ expectations of $49.72 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities analysts forecast that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake in MP Materials by 28.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock worth $54,000 after acquiring an additional 177 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of MP Materials by 1.0% during the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after purchasing an additional 188 shares in the last quarter. Wedmont Private Capital lifted its position in shares of MP Materials by 1.7% during the third quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in shares of MP Materials by 4.7% in the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the period. Finally, Rothschild Investment LLC grew its holdings in shares of MP Materials by 4.0% in the third quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares in 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.