MP Materials (NYSE:MP) Stock Price Down 2.9% – Time to Sell?

MP Materials Corp. (NYSE:MP)’s stock price was down 2.9% during mid-day trading on Monday . The stock traded as low as $55.52 and last traded at $56.9190. Approximately 5,888,821 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 10,857,113 shares. The stock had previously closed at $58.64.

Wall Street Analyst Weigh In

A number of analysts recently commented on MP shares. Daiwa America raised MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. Bank of America raised their price target on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets started coverage on shares of MP Materials in a report on Thursday, October 9th. They set a “market perform” rating and a $76.00 price target for the company. Canaccord Genuity Group upped their price objective on shares of MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, 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 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

MP Materials Stock Down 2.9%

The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of -80.17 and a beta of 2.26. The firm has a 50 day moving average price of $69.11 and a two-hundred day moving average price of $53.17.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The firm had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same quarter last year, the firm posted ($0.12) earnings per share. MP Materials’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently modified their holdings of MP. Ballentine Partners LLC purchased a new position in shares of MP Materials during the 2nd quarter valued at approximately $241,000. Strs Ohio acquired a new stake in MP Materials in the first quarter valued at $687,000. Exchange Traded Concepts LLC bought a new position in MP Materials during the 2nd quarter valued at $7,479,000. Cutler Investment Counsel LLC bought a new position in MP Materials during the 2nd quarter valued at $287,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in MP Materials during the 2nd quarter worth $491,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.