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

JPMorgan Chase & Co. downgraded shares of MP Materials (NYSE:MP) from an overweight rating to a neutral rating in a report released on Tuesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $16.00 price objective on the stock, down from their prior price objective of $20.00.

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

MP Materials Stock Performance

MP opened at $16.04 on Tuesday. MP Materials has a 1-year low of $12.68 and a 1-year high of $26.53. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 123.36, a price-to-earnings-growth ratio of 3.48 and a beta of 2.41. The business has a 50 day moving average price of $15.26 and a two-hundred day moving average price of $16.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) 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 company had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. Research analysts predict that MP Materials will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MP. GAMMA Investing LLC acquired a new stake in MP Materials in the fourth quarter valued at approximately $26,000. TFO Wealth Partners LLC grew its stake in shares of MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after acquiring an additional 1,537 shares during the last quarter. CWM LLC increased its holdings in shares of MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares during the period. Global Retirement Partners LLC increased its stake in MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after acquiring an additional 2,224 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of MP Materials by 120.6% during 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. 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.