MP Materials (NYSE:MP) Stock Price Down 3.4%

MP Materials Corp. (NYSE:MP – Get Rating)’s share price traded down 3.4% on Friday . The company traded as low as $21.40 and last traded at $21.47. 408,685 shares changed hands during trading, a decline of 81% from the average session volume of 2,177,997 shares. The stock had previously closed at $22.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Northland Securities lowered MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Tuesday, April 18th. TheStreet downgraded shares of MP Materials from a “c-” rating to a “d+” rating in a report on Thursday, May 18th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MP Materials from $30.00 to $26.00 in a report on Monday, May 8th. DA Davidson lowered their price target on shares of MP Materials from $50.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Finally, Morgan Stanley decreased their price objective on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

MP Materials Trading Down 1.3 %

The company has a market capitalization of $3.90 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.13 and a beta of 2.69. The company’s fifty day moving average is $24.29 and its 200-day moving average is $28.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 13.50 and a quick ratio of 12.84.

MP Materials (NYSE:MP – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.28. MP Materials had a net margin of 52.72% and a return on equity of 20.17%. The company had revenue of $93.25 million for the quarter, compared to analyst estimates of $82.53 million. On average, analysts anticipate that MP Materials Corp. will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were acquired at an average cost of $22.22 per share, with a total value of $111,100.00. Following the completion of the acquisition, the chief operating officer now owns 39,476 shares of the company’s stock, valued at $877,156.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 20,000 shares of company stock valued at $432,100. 33.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MP Materials

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of MP Materials by 5.9% in the third quarter. Vanguard Group Inc. now owns 8,977,206 shares of the company’s stock worth $245,077,000 after acquiring an additional 497,497 shares during the period. BlackRock Inc. raised its position in shares of MP Materials by 0.5% in the first quarter. BlackRock Inc. now owns 8,775,864 shares of the company’s stock worth $247,392,000 after acquiring an additional 39,375 shares during the period. State Street Corp raised its position in shares of MP Materials by 9.8% in the first quarter. State Street Corp now owns 5,765,791 shares of the company’s stock worth $162,538,000 after acquiring an additional 513,884 shares during the period. Bank of New York Mellon Corp raised its position in shares of MP Materials by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 2,784,286 shares of the company’s stock worth $78,489,000 after acquiring an additional 32,687 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of MP Materials by 6.6% in the third quarter. Renaissance Technologies LLC now owns 2,625,400 shares of the company’s stock worth $71,673,000 after acquiring an additional 163,400 shares during the period. 62.84% of the stock is owned by hedge funds and other institutional investors.

MP Materials Company Profile

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MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.