MP Materials (NYSE:MP) Stock Price Down 6% – Here’s What Happened

by · The Markets Daily

MP Materials Corp. (NYSE:MP – Get Free Report) shares fell 6% during trading on Monday . The stock traded as low as $58.10 and last traded at $58.2250. 5,716,833 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 10,827,541 shares. The stock had previously closed at $61.95.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MP. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $71.00 in a report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday, October 8th. Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. Finally, Morgan Stanley set a $69.00 price objective on shares of MP Materials in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $78.73.

View Our Latest Stock Analysis on MP

MP Materials Trading Down 6.0%

The firm has a fifty day moving average of $67.74 and a 200 day moving average of $55.71. The firm has a market capitalization of $10.32 billion, a PE ratio of -82.01 and a beta of 2.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05.

MP Materials (NYSE:MP – Get Free Report) 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 firm had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.MP Materials’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) EPS. Equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 248,411 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $63.86, for a total transaction of $15,863,526.46. Following the completion of the sale, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at approximately $853,786,806.90. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $57.72, for a total transaction of $1,154,400.00. Following the completion of the transaction, the chief financial officer owned 194,812 shares in the company, valued at $11,244,548.64. This represents a 9.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MP Materials

A number of hedge funds have recently bought and sold shares of MP. Wolff Wiese Magana LLC grew its position in shares of MP Materials by 28.1% during the third quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock worth $54,000 after buying an additional 177 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in MP Materials by 1.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock valued at $1,218,000 after acquiring an additional 188 shares during the last quarter. Wedmont Private Capital grew its holdings in MP Materials by 1.7% during the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after acquiring an additional 195 shares in the last quarter. IMG Wealth Management Inc. grew its holdings in MP Materials by 4.7% during the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in shares of MP Materials by 4.0% in the 3rd quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

(Get Free Report)

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.

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