MP Materials (NYSE:MP) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of MP Materials (NYSE:MP) in a research note issued to investors on Friday, Benzinga reports. They currently have a $30.00 target price on the stock.

MP has been the topic of several other reports. Morgan Stanley downgraded MP Materials from an overweight rating to an equal weight rating and reduced their target price for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Canaccord Genuity Group cut their price objective on shares of MP Materials from $23.00 to $22.00 and set a buy rating on the stock in a report on Wednesday, March 13th. Jefferies Financial Group lowered their target price on shares of MP Materials from $36.00 to $28.00 and set a buy rating for the company in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft cut 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 note on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut shares of MP Materials from an overweight rating to a neutral rating and lowered their price objective for the company from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MP Materials presently has an average rating of Moderate Buy and an average target price of $23.64.

MP Materials Trading Down 3.4 %

Shares of MP Materials stock traded down $0.55 during mid-day trading on Friday, hitting $15.41. 4,722,005 shares of the stock were exchanged, compared to its average volume of 3,892,365. The company has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $16.35. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -102.73, a price-to-earnings-growth ratio of 7.60 and a beta of 2.31. MP Materials has a twelve month low of $12.68 and a twelve month high of $26.53.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). MP Materials had a net margin of 1.62% and a negative return on equity of 0.58%. The firm had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. Research analysts forecast that MP Materials will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in MP Materials during the 4th quarter valued at $26,000. TFO Wealth Partners LLC grew its stake in shares of MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after acquiring an additional 1,537 shares in the last quarter. CWM LLC increased its position in shares of MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of MP Materials by 2,316.7% in the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after acquiring an additional 2,224 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in MP Materials by 120.6% in the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after purchasing an additional 1,134 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Company Profile

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.