MP Materials (NYSE:MP) Stock Falls 3.2% – Should You Sell?

Shares of MP Materials Corp. (NYSE:MP) fell 3.2% during trading on Monday. The stock traded as low as $38.13 and last traded at $38.2890. Approximately 4,218,237 shares were traded during trading, a decline of 33% from the average session volume of 6,327,481 shares. The stock had previously closed at $39.57.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MP. Freedom Broker assumed coverage on shares of MP Materials in a research note on Wednesday, September 16th. They set a “hold” rating and a $57.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. Needham & Company LLC cut their price target on MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average price target of $71.92.

MP Materials Trading Down 5.2%

The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $47.12 and its 200-day moving average price is $54.93.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $108.49 million for the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company’s quarterly revenue was up 89.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. As a group, analysts anticipate that MP Materials Corp. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MP. AlphaCore Capital LLC grew its holdings in MP Materials by 55.2% during the 3rd quarter. AlphaCore Capital LLC now owns 8,060 shares of the company’s stock valued at $381,000 after buying an additional 2,868 shares in the last quarter. Retirement Systems of Alabama increased its stake in MP Materials by 10.3% in the 3rd quarter. Retirement Systems of Alabama now owns 154,311 shares of the company’s stock worth $7,297,000 after acquiring an additional 14,376 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in MP Materials in the 3rd quarter worth approximately $137,000. 180 Wealth Advisors LLC increased its stake in MP Materials by 6.0% in the 3rd quarter. 180 Wealth Advisors LLC now owns 29,427 shares of the company’s stock worth $1,392,000 after acquiring an additional 1,656 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of MP Materials by 45.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 109,473 shares of the company’s stock worth $5,177,000 after acquiring an additional 33,965 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Company Profile

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.