JPMorgan Chase & Co. Cuts MP Materials (NYSE:MP) Price Target to $18.00

MP Materials (NYSE:MP) had its price target decreased by JPMorgan Chase & Co. from $21.00 to $18.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on MP. DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.61.

MP Materials Price Performance

NYSE MP opened at $20.88 on Monday. The stock has a 50-day simple moving average of $24.59 and a 200 day simple moving average of $21.91. MP Materials has a twelve month low of $10.02 and a twelve month high of $29.72. The stock has a market capitalization of $3.41 billion, a PE ratio of -35.39 and a beta of 2.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. Research analysts anticipate that MP Materials will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This represents a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer now directly owns 13,643,076 shares of the company’s stock, valued at $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 943,792 shares of company stock valued at $25,286,567 over the last quarter. 12.60% of the stock is owned by company insiders.

Institutional Trading of MP Materials

Several large investors have recently added to or reduced their stakes in MP. NBC Securities Inc. raised its stake in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,199 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MP Materials during the 1st quarter valued at $35,000. Banque Cantonale Vaudoise bought a new position in MP Materials in the 1st quarter valued at $35,000. Quadrant Capital Group LLC boosted its stake in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of MP Materials during the fourth quarter worth $40,000. 52.55% of the stock is owned by 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.