MP Materials (NYSE:MP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of MP Materials (NYSE:MP) from a neutral rating to an overweight rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has $74.00 target price on the stock, down from their previous target price of $75.00.

A number of other equities research analysts have also issued reports on the stock. Benchmark restated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. Robert W. Baird upped their price objective on MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Bank of America increased their target price on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. Finally, Cfra Research raised MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

MP Materials Price Performance

MP stock opened at $58.51 on Friday. The stock’s 50 day moving average is $69.11 and its two-hundred day moving average is $53.17. MP Materials has a 52-week low of $15.56 and a 52-week high of $100.25. The company has a market capitalization of $10.37 billion, a PE ratio of -82.40 and a beta of 2.26. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The business had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. Analysts predict that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MP. Ballentine Partners LLC bought a new position in MP Materials in the 2nd quarter worth $241,000. Strs Ohio bought a new stake in MP Materials during the first quarter valued at about $687,000. Exchange Traded Concepts LLC acquired a new stake in shares of MP Materials in the second quarter valued at about $7,479,000. Cutler Investment Counsel LLC bought a new position in shares of MP Materials in the second quarter worth about $287,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of MP Materials during the 2nd quarter worth about $491,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Company Profile

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.