MP Materials (NYSE:MP) Rating Lowered to Neutral at JPMorgan Chase & Co.

MP Materials (NYSE:MP) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. They presently have a $16.00 target price on the stock, down from their previous target price of $20.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.57% from the company’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley lowered MP Materials from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Jefferies Financial Group decreased their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Canaccord Genuity Group decreased their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Stock Performance

Shares of MP Materials stock opened at $15.91 on Tuesday. MP Materials has a 52 week low of $12.68 and a 52 week high of $26.53. The business’s fifty day simple moving average is $15.26 and its 200-day simple moving average is $16.42. The firm has a market cap of $2.83 billion, a PE ratio of 122.39 and a beta of 2.42. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50.

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

Hedge Funds Weigh In On MP Materials

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in MP Materials during the 4th quarter worth approximately $26,000. TFO Wealth Partners LLC grew its stake in MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC increased its holdings in shares of MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the period. Fifth Third Bancorp increased its holdings in shares of MP Materials by 120.6% in the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after purchasing an additional 1,134 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of MP Materials by 2,335.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the period. Institutional investors and hedge funds 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.