MP Materials (NYSE:MP) PT Lowered to $14.00

MP Materials (NYSE:MP) had its target price cut by Morgan Stanley from $15.50 to $14.00 in a research report report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group lowered their price target on MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a research report on Tuesday, March 19th. Canaccord Genuity Group dropped their target price on MP Materials from $23.00 to $22.00 and set a buy rating for the company in a research report on Wednesday, March 13th. Benchmark reaffirmed a buy rating and issued a $30.00 target price on shares of MP Materials in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $17.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut shares of MP Materials from an overweight rating to a neutral rating and cut their price objective for the company from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $23.43.

MP Materials Stock Performance

Shares of MP opened at $13.37 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 10.29 and a quick ratio of 9.28. The firm has a market cap of $2.21 billion, a PE ratio of -89.26 and a beta of 2.28. MP Materials has a 1 year low of $12.68 and a 1 year high of $26.53. The stock’s fifty day moving average price is $15.93 and its two-hundred day moving average price is $16.22.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. On average, equities research analysts forecast that MP Materials will post -0.25 EPS for the current year.

Insider Buying and Selling at MP Materials

In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the sale, the director now owns 86,000 shares in the company, valued at $1,554,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the transaction, the chief financial officer now directly owns 325,021 shares in the company, valued at $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is owned by company insiders.

Institutional Trading of MP Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of MP. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 2,697,925 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in MP Materials by 2,536.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock worth $23,767,000 after buying an additional 1,598,861 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MP Materials by 59.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock worth $45,956,000 after buying an additional 860,960 shares during the period. Baillie Gifford & Co. increased its stake in MP Materials by 26.2% in the 4th quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after buying an additional 614,088 shares in the last quarter. Finally, Norges Bank bought a new stake in MP Materials during the fourth quarter valued at about $10,484,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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.