MP Materials (NYSE:MP) Stock Price Target Lowered at Robert W. Baird

MP Materials (NYSE:MP) had its price objective cut by equities researchers at Robert W. Baird from $80.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 37.24% from the company’s previous close.

Several other equities research analysts have also commented on MP. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley reissued an “overweight” rating on shares of MP Materials in a research note on Wednesday, August 19th. Barclays lowered their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $75.42.

MP Materials Price Performance

MP stock opened at $47.36 on Thursday. The firm has a 50 day moving average of $51.15 and a 200-day moving average of $55.41. The company has a market cap of $8.43 billion, a price-to-earnings ratio of -139.29 and a beta of 1.94. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. MP Materials has a 12-month low of $37.81 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company’s revenue was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. As a group, equities analysts expect that MP Materials will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toth Financial Advisory Corp boosted its stake 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 valued at $29,000 after purchasing an additional 220 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of MP Materials by 3.7% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock valued at $321,000 after purchasing an additional 240 shares in the last quarter. Allworth Financial LP grew its position in shares of MP Materials by 4.5% during the second quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock worth $318,000 after buying an additional 243 shares in the last quarter. NFSG Corp boosted its stake in MP Materials by 5.0% during the 1st quarter. NFSG Corp now owns 5,387 shares of the company’s stock valued at $260,000 after acquiring an additional 255 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of MP Materials by 5.8% in the 1st quarter. Parallel Advisors LLC now owns 4,697 shares of the company’s stock worth $227,000 after purchasing an additional 259 shares during the last quarter. 52.55% of the stock is 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.