MP Materials (NYSE:MP) Reaches New 1-Year Low – Here’s Why

Shares of MP Materials Corp. (NYSE:MP) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $37.59 and last traded at $37.7630, with a volume of 3,507,168 shares changing hands. The stock had previously closed at $39.50.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MP shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Robert W. Baird cut their price target on MP Materials from $80.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Freedom Broker started coverage on shares of MP Materials in a report on Wednesday, September 16th. They set a “hold” rating and a $57.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. Finally, Zacks Research cut MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, MP Materials has an average rating of “Moderate Buy” and an average price target of $71.92.

MP Materials Stock Down 2.4%

The stock has a market capitalization of $6.86 billion, a P/E ratio of -113.33 and a beta of 1.98. The stock has a 50 day moving average price of $50.33 and a 200-day moving average price of $54.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting 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 company had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the business posted ($0.13) EPS. The firm’s revenue was up 89.0% compared to the same quarter last year. As a group, research analysts expect that MP Materials Corp. will post -0.20 EPS for the current fiscal year.

Institutional Trading of MP Materials

Several institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp raised its position 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 during the last quarter. Mather Group LLC. increased its position in MP Materials by 390.6% during the third quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after acquiring an additional 543 shares during the last quarter. Markowski Investments purchased a new position in MP Materials in the second quarter worth about $43,000. Archer Investment Corp lifted its stake in shares of MP Materials by 990.1% in the 1st 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. Finally, Ascentis Independent Advisors purchased a new stake in MP Materials during the first quarter valued at approximately $64,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

About MP Materials

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.