MP Materials (NYSE:MP) PT Lowered to $15.00

MP Materials (NYSE:MP) had its target price reduced by Deutsche Bank Aktiengesellschaft from $17.00 to $15.00 in a report published on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Other analysts also recently issued research reports about the company. 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. JPMorgan Chase & Co. dropped their target price on MP Materials from $22.00 to $20.00 and set an overweight rating for the company in a research report on Friday, February 23rd. Morgan Stanley cut MP Materials from an overweight rating to an equal weight rating and decreased their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group decreased their price target on MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, MP Materials currently has an average rating of Moderate Buy and an average price target of $25.19.

MP Materials Stock Performance

Shares of MP opened at $16.84 on Thursday. The stock has a 50-day moving average price of $15.29 and a 200-day moving average price of $16.49. The company has a market cap of $3.00 billion, a PE ratio of 129.55 and a beta of 2.41. MP Materials has a 12-month low of $12.68 and a 12-month high of $28.71. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last released its 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 during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. As a group, equities analysts forecast that MP Materials will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of MP Materials during the fourth quarter valued at approximately $26,000. TFO Wealth Partners LLC grew its stake in 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 purchasing an additional 1,537 shares during the period. CWM LLC raised its holdings in 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 purchasing an additional 766 shares in the last quarter. Elkhorn Partners Limited Partnership raised its holdings in MP Materials by 33.9% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after purchasing an additional 475 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in MP Materials by 3,848.0% in the second quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after purchasing an additional 1,924 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.