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

JPMorgan Chase & Co. cut shares of MP Materials (NYSE:MP) from an overweight rating to a neutral rating in a research report report published on Tuesday, MarketBeat.com reports. The firm currently has $16.00 target price on the stock, down from their previous target price of $20.00.

Several other research analysts have also weighed in on MP. Morgan Stanley lowered MP Materials from an overweight rating to an equal weight rating and cut their target price for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Jefferies Financial Group cut their price objective on MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Canaccord Genuity Group reduced their price objective 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $23.64.

MP Materials Price Performance

MP stock opened at $16.00 on Tuesday. MP Materials has a 52-week low of $12.68 and a 52-week high of $26.53. The stock’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $16.40. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 123.09, a price-to-earnings-growth ratio of 3.48 and a beta of 2.41.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The business had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. Equities research analysts expect that MP Materials will post 0.14 EPS for the current year.

Institutional Trading of MP Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of MP Materials during the fourth quarter valued at approximately $26,000. TFO Wealth Partners LLC grew its holdings in shares of MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the last quarter. CWM LLC grew its holdings in shares of 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 last quarter. Nisa Investment Advisors LLC grew its holdings in shares of MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after purchasing an additional 1,134 shares during the last quarter. 52.55% of the stock is owned by 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.