MP Materials (NYSE:MP) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen cut shares of MP Materials (NYSE:MP) from a hold rating to a sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

A number of other brokerages have also recently commented on MP. Zacks Research cut MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. cut their price target on MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a report on Friday, July 17th. Needham & Company LLC reduced their price objective on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

MP Materials Stock Up 0.0%

Shares of NYSE MP opened at $46.15 on Friday. 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 firm’s 50-day moving average is $51.86 and its two-hundred day moving average is $54.96. MP Materials has a 12-month low of $37.81 and a 12-month high of $100.25. The company has a market capitalization of $8.22 billion, a PE ratio of -135.72 and a beta of 1.98.

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

Institutional Investors Weigh In On MP Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. Gallagher Capital Advisors LLC purchased a new position in MP Materials during the third quarter worth approximately $481,000. Wedmont Private Capital grew its stake in shares of MP Materials by 2.0% during 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 during the period. GAMMA Investing LLC grew its stake in shares of MP Materials by 24.8% during 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 during the period. Overbrook Management Corp purchased a new stake in shares of MP Materials during the 3rd quarter valued at $4,449,000. Finally, Farther Finance Advisors LLC grew its stake in shares of MP Materials by 40.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,431 shares of the company’s stock valued at $824,000 after buying an additional 5,046 shares during the period. 52.55% of the stock is currently owned by hedge funds and other 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.