MP Materials (NYSE:MP) Price Target Cut to $20.00 by Analysts at Robert W. Baird

MP Materials (NYSE:MP) had its target price trimmed by Robert W. Baird from $24.00 to $20.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

MP has been the topic of a number of other reports. Jefferies Financial Group decreased their price target on MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, March 19th. BMO Capital Markets initiated coverage on MP Materials in a research note on Monday. They set a market perform rating and a $16.50 price target on the stock. JPMorgan Chase & Co. cut MP Materials from an overweight rating to a neutral rating and decreased their price target for the stock from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Bank of America decreased their price target on MP Materials from $25.00 to $24.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley cut their price objective on MP Materials from $15.50 to $14.00 and set an equal weight rating on the stock in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, MP Materials has a consensus rating of Moderate Buy and an average target price of $20.61.

MP Materials Trading Down 4.2 %

MP opened at $14.47 on Monday. MP Materials has a one year low of $12.09 and a one year high of $24.80. The stock has a market capitalization of $2.39 billion, a PE ratio of -96.46 and a beta of 2.22. The business’s 50 day moving average price is $15.14 and its 200 day moving average price is $15.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The business had revenue of $48.68 million during the quarter, compared to analyst estimates of $46.00 million. As a group, equities research analysts expect that MP Materials will post -0.28 EPS for the current year.

Insider Activity at MP Materials

In related news, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the transaction, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the transaction, the director now directly owns 86,000 shares in the company, valued at approximately $1,554,020. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MP Materials

Several hedge funds have recently made changes to their positions in the company. ARS Investment Partners LLC grew its holdings in shares of MP Materials by 11.2% during the second quarter. ARS Investment Partners LLC now owns 1,192,861 shares of the company’s stock worth $15,185,000 after purchasing an additional 119,933 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in shares of MP Materials by 19.4% during the second quarter. Archford Capital Strategies LLC now owns 16,274 shares of the company’s stock worth $207,000 after purchasing an additional 2,639 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of MP Materials by 7.8% during the second quarter. 180 Wealth Advisors LLC now owns 61,210 shares of the company’s stock worth $779,000 after purchasing an additional 4,420 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of MP Materials by 6.9% during the second quarter. Great Valley Advisor Group Inc. now owns 81,297 shares of the company’s stock worth $1,035,000 after purchasing an additional 5,249 shares during the last quarter. Finally, Lauer Wealth LLC grew its holdings in shares of MP Materials by 22.1% during the second quarter. Lauer Wealth LLC now owns 29,650 shares of the company’s stock worth $377,000 after purchasing an additional 5,358 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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.