MP Materials (NYSE:MP) Trading Down 5.7% – Time to Sell?

MP Materials Corp. (NYSE:MP) shares were down 5.7% on Thursday . The stock traded as low as $51.12 and last traded at $51.1920. 6,820,533 shares were traded during trading, an increase of 4% from the average session volume of 6,563,870 shares. The stock had previously closed at $54.30.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC decreased their price objective on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group restated a “buy” rating on shares of MP Materials in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating on shares of MP Materials in a report on Wednesday, August 19th. Citigroup reiterated a “positive” rating on shares of MP Materials in a report on Wednesday, July 15th. Finally, Barclays dropped their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.21.

MP Materials Trading Down 5.7%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The business’s 50 day moving average price is $51.36 and its 200-day moving average price is $56.53. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -150.56 and a beta of 1.94.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.MP Materials’s revenue for the quarter was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Equities analysts expect that MP Materials Corp. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. EMC Capital Management acquired a new stake in shares of MP Materials in the 4th quarter worth about $25,000. REAP Financial Group LLC bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $26,000. Toth Financial Advisory Corp grew its holdings 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 buying an additional 220 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in MP Materials in the 4th quarter valued at approximately $28,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in MP Materials during the 4th quarter valued at $36,000. 52.55% of the stock is currently owned by institutional investors.

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 is one of the largest rare earth production facilities in the Western Hemisphere and produces rare earth concentrate, with an emphasis on neodymium-praseodymium (NdPr), materials used in high-performance permanent magnets.

The company is expanding its operations beyond mining and concentrate production into separated rare earth products and magnet manufacturing.