MP Materials (NYSE:MP) Downgraded by JPMorgan Chase & Co. to “Neutral”

MP Materials (NYSE:MP) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $16.00 target price on the stock, down from their previous target price of $20.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 1.65% from the stock’s previous close.

Several other research analysts have also recently weighed in on MP. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Canaccord Genuity Group lowered their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Jefferies Financial Group lowered their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Price Performance

MP Materials stock opened at $15.74 on Tuesday. MP Materials has a 52-week low of $12.68 and a 52-week high of $26.53. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 121.09 and a beta of 2.41. The company has a fifty day simple moving average of $15.27 and a 200-day simple moving average of $16.41. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. On average, equities analysts anticipate that MP Materials will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MP. AE Wealth Management LLC lifted its position in shares of MP Materials by 7.0% during the third quarter. AE Wealth Management LLC now owns 143,969 shares of the company’s stock worth $2,750,000 after purchasing an additional 9,480 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of MP Materials by 50.4% during the third quarter. State of Alaska Department of Revenue now owns 17,219 shares of the company’s stock worth $328,000 after purchasing an additional 5,770 shares in the last quarter. DDD Partners LLC lifted its position in shares of MP Materials by 126.7% during the third quarter. DDD Partners LLC now owns 20,415 shares of the company’s stock worth $390,000 after purchasing an additional 11,410 shares in the last quarter. Bfsg LLC lifted its position in shares of MP Materials by 13.5% during the third quarter. Bfsg LLC now owns 124,008 shares of the company’s stock worth $2,369,000 after purchasing an additional 14,757 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of MP Materials by 40.2% during the third quarter. Xponance Inc. now owns 15,848 shares of the company’s stock worth $303,000 after purchasing an additional 4,543 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.