MP Materials (NYSE:MP) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of MP Materials (NYSE:MP) from an overweight rating to a neutral rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $16.00 price target on the stock, down from their prior price target of $20.00.

A number of other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MP Materials from $17.00 to $15.00 and set a hold rating on the stock in a research report on Thursday, April 11th. Jefferies Financial Group decreased their target price on MP Materials from $36.00 to $28.00 and set a buy rating for the company in a research report on Tuesday, March 19th. Morgan Stanley downgraded shares of MP Materials from an overweight rating to an equal weight rating and cut their price target for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, Canaccord Genuity Group decreased their price objective on shares of MP Materials from $23.00 to $22.00 and set a buy rating for the company in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of Moderate Buy and an average price target of $23.64.

MP Materials Trading Up 1.9 %

Shares of MP stock opened at $16.04 on Tuesday. The stock has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $16.41. The company has a market cap of $2.86 billion, a P/E ratio of 123.36, a PEG ratio of 3.48 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. MP Materials has a fifty-two week low of $12.68 and a fifty-two week high of $26.53.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The business had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. Research analysts forecast that MP Materials will post 0.14 earnings per share for the current year.

Institutional Trading of MP Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC boosted its position in shares of MP Materials by 7.0% in the third quarter. AE Wealth Management LLC now owns 143,969 shares of the company’s stock valued at $2,750,000 after acquiring an additional 9,480 shares during the period. State of Alaska Department of Revenue grew its position in shares of MP Materials by 50.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,219 shares of the company’s stock valued at $328,000 after purchasing an additional 5,770 shares in the last quarter. DDD Partners LLC raised its position in shares of MP Materials by 126.7% in the third quarter. DDD Partners LLC now owns 20,415 shares of the company’s stock worth $390,000 after buying an additional 11,410 shares in the last quarter. Bfsg LLC boosted its stake in MP Materials by 13.5% during the third quarter. Bfsg LLC now owns 124,008 shares of the company’s stock valued at $2,369,000 after buying an additional 14,757 shares during the period. Finally, Xponance Inc. grew its position in MP Materials by 40.2% during the third quarter. Xponance Inc. now owns 15,848 shares of the company’s stock worth $303,000 after buying an additional 4,543 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.