JPMorgan Chase & Co. Cuts MP Materials (NYSE:MP) Price Target to $15.00

MP Materials (NYSE:MP) had its target price reduced by JPMorgan Chase & Co. from $16.00 to $15.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

MP has been the topic of several other reports. BMO Capital Markets initiated coverage on shares of MP Materials in a research report on Monday, July 15th. They set a market perform rating and a $16.50 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased 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. Benchmark reissued a buy rating and set a $30.00 target price on shares of MP Materials in a research note on Tuesday, May 14th. Morgan Stanley decreased their target price on shares of MP Materials from $15.50 to $14.00 and set an equal weight rating for the company in a research note on Friday, June 21st. Finally, Robert W. Baird decreased their target price on shares of MP Materials from $24.00 to $20.00 and set an outperform rating for the company in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $20.50.

MP Materials Price Performance

NYSE MP opened at $13.79 on Tuesday. MP Materials has a twelve month low of $12.09 and a twelve month high of $24.44. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $14.80 and its two-hundred day moving average price is $15.49.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The firm had revenue of $48.68 million for the quarter, compared to analysts’ expectations of $46.00 million. As a group, sell-side analysts forecast that MP Materials will post -0.33 earnings per share for the current year.

Insider Activity at MP Materials

In related news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MP. Vanguard Group Inc. lifted its position in MP Materials by 25.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after acquiring an additional 2,697,925 shares during the last quarter. Pacer Advisors Inc. lifted its position in MP Materials by 79.9% during the 4th quarter. Pacer Advisors Inc. now owns 21,656 shares of the company’s stock worth $430,000 after acquiring an additional 9,620 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its position in MP Materials by 35.0% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 14,500 shares of the company’s stock worth $287,000 after acquiring an additional 3,760 shares during the last quarter. Mendota Financial Group LLC lifted its position in MP Materials by 46.8% during the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock worth $75,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in MP Materials by 2,911.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 320,543 shares of the company’s stock worth $6,363,000 after acquiring an additional 309,898 shares during 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.