MP Materials (NYSE:MP) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

MP Materials (NYSE:MP) had its price target decreased by research analysts at JPMorgan Chase & Co. from $21.00 to $18.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 15.04% from the company’s previous close.

Other analysts also recently issued reports about the company. BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.61.

MP Materials Stock Performance

NYSE MP traded down $0.76 on Monday, reaching $21.19. The stock had a trading volume of 6,323,920 shares, compared to its average volume of 3,684,835. The stock has a market cap of $3.46 billion, a P/E ratio of -35.92 and a beta of 2.24. MP Materials has a 12-month low of $10.02 and a 12-month high of $29.72. The business’s 50-day moving average price is $24.83 and its 200 day moving average price is $21.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, equities analysts expect that MP Materials will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 161,175 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $4,342,054.50. Following the sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at approximately $386,661,441.66. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at approximately $5,799,924. This trade represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 943,792 shares of company stock worth $25,286,567 in the last 90 days. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MP. Price T Rowe Associates Inc. MD lifted its position in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after acquiring an additional 2,005,505 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in MP Materials in the 4th quarter worth $14,886,000. Vanguard Group Inc. increased its holdings in shares of MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after purchasing an additional 942,105 shares during the period. Raymond James Financial Inc. acquired a new position in shares of MP Materials during the fourth quarter valued at about $6,284,000. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of MP Materials in the fourth quarter valued at about $6,019,000. 52.55% of the stock is 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.