MP Materials (NYSE:MP) Stock Price Down 6.2% – Time to Sell?

MP Materials Corp. (NYSE:MP) traded down 6.2% during trading on Monday. The stock traded as low as $43.17 and last traded at $43.2970. 6,822,096 shares traded hands during trading, an increase of 6% from the average daily volume of 6,413,006 shares. The stock had previously closed at $46.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of MP Materials in a report on Tuesday, September 8th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Sunday. Barclays reduced their price objective on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

MP Materials Trading Down 6.2%

The firm has a market cap of $7.71 billion, a price-to-earnings ratio of -127.34 and a beta of 1.98. The company has a 50-day moving average price of $51.86 and a 200 day moving average price of $54.96. 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 issued its quarterly 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 for the quarter, compared to the consensus estimate 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 previous year, the company posted ($0.13) earnings per share. As a group, research analysts anticipate that MP Materials Corp. will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Institutional investors have recently bought and sold shares of the business. EMC Capital Management acquired a new position in shares of MP Materials in the 4th quarter valued at about $25,000. Toth Financial Advisory Corp lifted its position in shares of MP Materials by 73.3% in the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of MP Materials during the fourth quarter worth approximately $36,000. Markowski Investments acquired a new stake in shares of MP Materials during the second quarter worth approximately $43,000. Finally, Archer Investment Corp boosted its holdings in shares of MP Materials by 990.1% during the first quarter. Archer Investment Corp now owns 1,101 shares of the company’s stock worth $53,000 after purchasing an additional 1,000 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

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 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.