MP Materials (NYSE:MP) Shares Down 3.8% – What’s Next?

MP Materials Corp. (NYSE:MP) dropped 3.8% during mid-day trading on Thursday . The stock traded as low as $56.69 and last traded at $57.4590. Approximately 10,668,178 shares traded hands during trading, a decline of 2% from the average daily volume of 10,877,091 shares. The stock had previously closed at $59.72.

Analysts Set New Price Targets

MP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $75.00 to $74.00 in a report on Friday. Robert W. Baird boosted their price target on MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Daiwa America upgraded MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Friday, August 1st. Finally, Benchmark reissued a “buy” rating on shares of MP Materials in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

MP Materials Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market cap of $10.37 billion, a PE ratio of -82.40 and a beta of 2.26. The company has a 50-day moving average price of $69.11 and a two-hundred day moving average price of $52.97.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same period in the previous year, the company posted ($0.12) EPS. MP Materials’s revenue for the quarter was down 14.9% on a year-over-year basis. Sell-side analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in MP Materials in the second quarter valued at approximately $25,000. Sound Income Strategies LLC grew its position in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after acquiring an additional 506 shares during the period. MAI Capital Management lifted its position in MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after purchasing an additional 651 shares during the period. 52.55% of the stock is currently 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.