MP Materials (NYSE:MP) Stock Gets Downgrade from Wall Street Zen

MP Materials (NYSE:MP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on the company. Barclays lowered their price objective on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Freedom Broker initiated coverage on MP Materials in a research note on Wednesday, September 16th. They issued a “hold” rating and a $57.00 target price for the company. Needham & Company LLC reduced their target price on MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of MP Materials in a research note on Monday, August 24th. Finally, Morgan Stanley decreased their price target on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

MP Materials Stock Down 6.2%

MP stock opened at $43.30 on Friday. MP Materials has a twelve month low of $37.81 and a twelve month high of $100.25. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The company has a market cap of $7.71 billion, a PE ratio of -127.34 and a beta of 1.98. The business’s 50-day simple moving average is $51.85 and its 200 day simple moving average is $54.89.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The firm had revenue of $108.49 million during the quarter, compared to analysts’ expectations of $96.89 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. The company’s revenue for the quarter was up 89.0% on a year-over-year basis. On average, research analysts anticipate that MP Materials will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On MP Materials

Several large investors have recently modified their holdings of the stock. Gallagher Capital Advisors LLC acquired a new position in shares of MP Materials in the 3rd quarter worth approximately $481,000. Wedmont Private Capital boosted its stake in MP Materials by 2.0% in the 3rd quarter. Wedmont Private Capital now owns 11,866 shares of the company’s stock valued at $547,000 after buying an additional 234 shares in the last quarter. GAMMA Investing LLC boosted its stake in MP Materials by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,596 shares of the company’s stock valued at $359,000 after buying an additional 1,508 shares in the last quarter. Overbrook Management Corp acquired a new stake in MP Materials in the 3rd quarter valued at $4,449,000. Finally, Farther Finance Advisors LLC grew its position in MP Materials by 40.7% in the third quarter. Farther Finance Advisors LLC now owns 17,431 shares of the company’s stock valued at $824,000 after acquiring an additional 5,046 shares during the period. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

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.