MP Materials (NYSE:MP) Stock Price Down 4.8% – What’s Next?

MP Materials Corp. (NYSE:MP) shares were down 4.8% on Monday. The company traded as low as $46.31 and last traded at $46.4640. 5,255,298 shares traded hands during trading, a decline of 19% from the average daily volume of 6,460,043 shares. The stock had previously closed at $48.83.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MP shares. Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Barclays reduced their price objective on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Zacks Research downgraded MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Finally, DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.29.

MP Materials Stock Performance

The stock has a 50 day moving average of $51.12 and a 200 day moving average of $55.72. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of -136.65 and a beta of 1.94. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company’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) EPS. As a group, analysts predict that MP Materials Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of MP. EMC Capital Management bought a new position in MP Materials during the fourth quarter worth $25,000. REAP Financial Group LLC acquired a new position in MP Materials in the fourth quarter valued at $26,000. Toth Financial Advisory Corp boosted its position in MP Materials by 73.3% during the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in MP Materials during the fourth quarter valued at $36,000. Finally, Markowski Investments acquired a new stake in MP Materials during the 2nd quarter worth about $43,000. 52.55% of the stock is 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 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.