MP Materials (NYSE:MP) Stock Gets Price Target Cut from Morgan Stanley

MP Materials (NYSE:MP) had its target price trimmed by Morgan Stanley from $73.00 to $66.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on MP. Citigroup reiterated a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. Needham & Company LLC decreased their price target 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. Robert W. Baird lowered their price target on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Zacks Research downgraded MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. Finally, Barclays dropped their price objective on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

MP Materials Trading Up 0.0%

NYSE MP opened at $46.15 on Wednesday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of -135.72 and a beta of 1.98. MP Materials has a one year low of $37.81 and a one year high of $100.25. 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 business’s fifty day moving average is $51.86 and its 200-day moving average is $54.95.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 89.0% on a year-over-year basis. Equities research analysts predict that MP Materials will post -0.17 EPS for the current year.

Hedge Funds Weigh In On MP Materials

Large investors have recently modified their holdings of the business. Toth Financial Advisory Corp boosted its stake in MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Wedmont Private Capital lifted its position in MP Materials by 2.0% during the third quarter. Wedmont Private Capital now owns 11,866 shares of the company’s stock valued at $547,000 after purchasing an additional 234 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of MP Materials by 3.7% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock worth $321,000 after acquiring an additional 240 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of MP Materials by 4.5% in the 2nd quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock worth $318,000 after purchasing an additional 243 shares in the last quarter. Finally, NFSG Corp boosted its stake in MP Materials by 5.0% in the first quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.