MP Materials Corp. (NYSE:MP – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $36.00 to $28.00. Jefferies Financial Group currently has a buy rating on the stock. MP Materials traded as low as $12.68 and last traded at $12.84, with a volume of 425977 shares changing hands. The stock had previously closed at $13.05.
A number of other equities research analysts have also weighed in on MP. Deutsche Bank Aktiengesellschaft raised their price target on shares of MP Materials from $14.00 to $17.00 and gave the company a “hold” rating in a report on Friday, March 8th. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Canaccord Genuity Group lowered their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.44.
Institutional Trading of MP Materials
Hedge funds have recently bought and sold shares of the company. Kennedy Capital Management LLC bought a new stake in shares of MP Materials during the 3rd quarter worth about $1,996,000. Van ECK Associates Corp raised its position in shares of MP Materials by 20.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock worth $51,770,000 after buying an additional 452,501 shares in the last quarter. Independent Advisor Alliance bought a new stake in shares of MP Materials in the 3rd quarter worth approximately $1,197,000. ANTIPODES PARTNERS Ltd raised its holdings in shares of MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock worth $70,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of MP Materials by 14.2% in the 3rd quarter. Barclays PLC now owns 122,019 shares of the company’s stock worth $2,331,000 after purchasing an additional 15,186 shares in the last quarter. 59.41% of the stock is currently owned by institutional investors.
MP Materials Price Performance
The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $15.71 and its 200 day moving average is $17.20. The firm has a market capitalization of $2.53 billion, a P/E ratio of 109.35, a P/E/G ratio of 1.29 and a beta of 2.44.
MP Materials (NYSE:MP – Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The business had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. As a group, analysts forecast that MP Materials Corp. will post 0.32 EPS for the current 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.