MP Materials (NYSE:MP) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of MP Materials (NYSE:MP) from an overweight rating to a neutral rating in a research note published on Tuesday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $16.00 target price on the stock, down from their prior target price of $20.00.

MP has been the topic of several other research reports. Jefferies Financial Group cut their price target on MP Materials from $36.00 to $28.00 and set a buy rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group reduced their price target on shares of MP Materials from $23.00 to $22.00 and set a buy rating for the company in a report on Wednesday, March 13th. Morgan Stanley cut shares of MP Materials from an overweight rating to an equal weight rating and dropped their price objective for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $17.00 to $15.00 and set a hold rating for the company in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, MP Materials has a consensus rating of Moderate Buy and an average target price of $23.64.

MP Materials Stock Down 0.4 %

Shares of NYSE:MP opened at $15.86 on Tuesday. The company’s fifty day moving average is $15.27 and its two-hundred day moving average is $16.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. MP Materials has a 1-year low of $12.68 and a 1-year high of $26.53. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 122.01 and a beta of 2.42.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The firm had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. Equities analysts anticipate that MP Materials will post -0.13 EPS for the current year.

Hedge Funds Weigh In On MP Materials

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of MP Materials by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock worth $270,669,000 after acquiring an additional 254,881 shares during the period. Van ECK Associates Corp lifted its position in MP Materials by 15.2% in the fourth quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after purchasing an additional 411,771 shares during the period. Baillie Gifford & Co. boosted its stake in MP Materials by 26.2% during the 4th quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock valued at $58,756,000 after purchasing an additional 614,088 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of MP Materials by 59.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after purchasing an additional 860,960 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of MP Materials by 12.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company’s stock worth $43,803,000 after buying an additional 246,534 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

About MP Materials

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.