JPMorgan Chase & Co. Lowers MP Materials (NYSE:MP) Price Target to $21.00

MP Materials (NYSE:MP) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $22.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 16.03% from the company’s previous close.

MP has been the subject of several other reports. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.94.

MP Materials Price Performance

Shares of NYSE MP opened at $25.01 on Thursday. The company’s fifty day moving average is $24.77 and its two-hundred day moving average is $21.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The firm has a market capitalization of $4.09 billion, a P/E ratio of -42.39 and a beta of 2.24. MP Materials has a one year low of $10.02 and a one year high of $29.72.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. Analysts forecast that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James H. Litinsky sold 386,223 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,330,015 shares of company stock valued at $34,559,781. 12.60% of the stock is owned by insiders.

Institutional Trading of MP Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in MP Materials by 47.5% during the third quarter. Tidal Investments LLC now owns 72,826 shares of the company’s stock worth $1,285,000 after purchasing an additional 23,441 shares during the period. Principal Financial Group Inc. increased its holdings in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares during the last quarter. GAMMA Investing LLC raised its position in shares of MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after buying an additional 1,545 shares during the period. Wedmont Private Capital acquired a new position in MP Materials in the fourth quarter valued at $159,000. Finally, Miracle Mile Advisors LLC grew its position in MP Materials by 12.4% during the fourth quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company’s stock valued at $248,000 after acquiring an additional 1,750 shares during the period. Hedge funds and other institutional investors 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.