MP Materials (NYSE:MP) Shares Gap Down to $15.92

MP Materials Corp. (NYSE:MP) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.92, but opened at $15.28. MP Materials shares last traded at $15.90, with a volume of 616,559 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MP. Jefferies Financial Group dropped their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group dropped their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft lowered their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. JPMorgan Chase & Co. cut MP Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $16.00 in a report on Tuesday. Finally, Morgan Stanley cut MP Materials from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Trading Down 0.8 %

The stock has a market capitalization of $2.80 billion, a P/E ratio of 121.09, a price-to-earnings-growth ratio of 5.46 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The stock has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $16.41.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, research analysts forecast that MP Materials Corp. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MP. Retirement Systems of Alabama grew its holdings in shares of MP Materials by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock worth $3,581,000 after acquiring an additional 723 shares during the period. CWM LLC grew its holdings in MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the period. Amalgamated Bank grew its holdings in MP Materials by 1.0% during the fourth quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock valued at $1,675,000 after purchasing an additional 798 shares during the period. State of Michigan Retirement System grew its holdings in MP Materials by 2.3% during the first 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 holdings in MP Materials by 5.3% during the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock valued at $340,000 after purchasing an additional 863 shares during the period. Hedge funds and other institutional investors 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.