MP Materials Corp. (NYSE:MP – Get Free Report) traded down 3.1% on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $17.00 to $15.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. MP Materials traded as low as $16.85 and last traded at $16.87. 577,727 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 3,635,607 shares. The stock had previously closed at $17.41.
A number of other research analysts have also recently commented on MP. JPMorgan Chase & Co. cut their price target on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Jefferies Financial Group cut their price target 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. Finally, Canaccord Genuity Group cut their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.19.
Check Out Our Latest Research Report on MP Materials
Hedge Funds Weigh In On MP Materials
MP Materials Trading Down 2.7 %
The business’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $16.53. The company has a market capitalization of $3.00 billion, a P/E ratio of 129.55 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.
MP Materials (NYSE:MP – Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. As a group, analysts forecast that MP Materials Corp. will post -0.13 EPS for the current fiscal year.
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.
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