MP Materials (NYSE:MP) Rating Lowered to Neutral at JPMorgan Chase & Co.

MP Materials (NYSE:MP) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat reports. They currently have a $16.00 price target on the stock, down from their prior price target of $20.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.65% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut 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 report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Jefferies Financial Group lowered their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report 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 on the stock in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Price Performance

Shares of NYSE MP opened at $15.74 on Tuesday. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53. The stock’s 50 day moving average price is $15.27 and its 200-day moving average price is $16.41. The company has a market capitalization of $2.80 billion, a PE ratio of 121.09 and a beta of 2.41. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The business had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. On average, equities analysts anticipate that MP Materials will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MP. Vanguard Group Inc. grew its position in MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after acquiring an additional 2,697,925 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after buying an additional 860,960 shares during the period. Baillie Gifford & Co. boosted its position in MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock valued at $58,756,000 after buying an additional 614,088 shares during the period. Norges Bank purchased a new stake in MP Materials during the fourth quarter valued at about $10,484,000. Finally, Van ECK Associates Corp boosted its position in MP Materials by 20.0% during the third 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 during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.