MP Materials (NYSE:MP) Stock Price Down 1.4% – Here’s Why

MP Materials Corp. (NYSE:MP)’s stock price was down 1.4% during trading on Tuesday. The company traded as low as $37.35 and last traded at $37.8210. Approximately 5,228,103 shares traded hands during trading, a decline of 17% from the average session volume of 6,317,594 shares. The stock had previously closed at $38.35.

Analysts Set New Price Targets

Several research firms recently issued reports on MP. Citigroup reissued a “positive” rating on shares of MP Materials in a research report on Wednesday, July 15th. DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, October 15th. Needham & Company LLC decreased their price objective on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.92.

MP Materials Trading Down 1.4%

The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. The firm has a market cap of $6.74 billion, a PE ratio of -111.23 and a beta of 1.98. The company’s 50 day moving average price is $47.52 and its 200 day moving average price is $55.09.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $108.49 million for the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The company’s revenue was up 89.0% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. As a group, analysts forecast that MP Materials Corp. will post -0.20 EPS for the current fiscal year.

Institutional Trading of MP Materials

A number of institutional investors and hedge funds have recently made changes to their positions in MP. Toth Financial Advisory Corp raised its position in shares of MP Materials by 73.3% during the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Mather Group LLC. increased its holdings in MP Materials by 390.6% in the 3rd quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after buying an additional 543 shares during the period. Markowski Investments bought a new position in MP Materials in the second quarter valued at about $43,000. MADDEN SECURITIES Corp acquired a new position in MP Materials in the third quarter valued at approximately $46,000. Finally, Archer Investment Corp boosted its stake in MP Materials by 990.1% in the first quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock valued at $53,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.