MP Materials (NYSE:MP) Shares Gap Down to $15.92

Shares of MP Materials Corp. (NYSE:MP) gapped down prior to trading on Tuesday . The stock had previously closed at $15.92, but opened at $15.28. MP Materials shares last traded at $15.90, with a volume of 616,559 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $16.00 in a report on Tuesday. Jefferies Financial Group decreased their price objective 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. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Canaccord Genuity Group decreased 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 report on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

MP Materials Stock Performance

The firm has a 50-day moving average of $15.27 and a two-hundred day moving average of $16.41. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $2.80 billion, a PE ratio of 121.09, a PEG ratio of 5.46 and a beta of 2.41.

MP Materials (NYSE:MP) last announced 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 company had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. Research analysts anticipate that MP Materials Corp. will post 0.09 EPS for the current year.

Institutional Trading of MP Materials

A number of institutional investors and hedge funds have recently made changes to their positions in MP. GAMMA Investing LLC purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $26,000. TFO Wealth Partners LLC boosted its stake in shares of MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after acquiring an additional 1,537 shares during the last quarter. CWM LLC boosted its stake in shares of MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of MP Materials by 2,316.7% in the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after acquiring an additional 2,224 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after buying an additional 1,134 shares during the last quarter. 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.