MP Materials (NYSE:MP) Rating Lowered to Neutral at JPMorgan Chase & Co.

MP Materials (NYSE:MP) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $16.00 target price on the stock, down from their prior target price of $20.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 0.57% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Canaccord Genuity Group decreased their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. 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. 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Stock Down 3.3 %

Shares of NYSE:MP opened at $15.91 on Tuesday. The stock has a market capitalization of $2.83 billion, a P/E ratio of 122.39 and a beta of 2.42. The stock’s 50-day moving average price is $15.26 and its 200-day moving average price is $16.42. 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 has a 12-month low of $12.68 and a 12-month high of $26.53.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, equities analysts anticipate that MP Materials will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in MP Materials by 6.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 137,328 shares of the company’s stock valued at $1,964,000 after purchasing an additional 8,890 shares during the period. PFG Investments LLC purchased a new position in MP Materials during the 1st quarter valued at $265,000. Investors Asset Management of Georgia Inc. GA ADV increased its position in MP Materials by 18.2% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,200 shares of the company’s stock valued at $275,000 after purchasing an additional 2,950 shares during the period. State of Michigan Retirement System increased its position in MP Materials by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the company’s stock valued at $506,000 after purchasing an additional 800 shares during the period. Finally, Mirador Capital Partners LP grew its position in shares of MP Materials by 12.9% in the 1st quarter. Mirador Capital Partners LP now owns 19,354 shares of the company’s stock worth $277,000 after buying an additional 2,212 shares during the period. 52.55% of the stock is 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.