MP Materials (NYSE:MP) Sets New 1-Year Low at $12.64

Shares of MP Materials Corp. (NYSE:MP) hit a new 52-week low during trading on Tuesday . The stock traded as low as $12.64 and last traded at $12.69, with a volume of 1557687 shares. The stock had previously closed at $13.39.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Jefferies Financial Group cut their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of MP Materials in a research note on Tuesday, May 14th. Finally, Canaccord Genuity Group dropped their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $23.50.

MP Materials Stock Up 2.8 %

The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average price is $15.71 and its 200 day moving average price is $16.15.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. As a group, research analysts expect that MP Materials Corp. will post -0.25 EPS for the current year.

Insider Activity

In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the completion of the transaction, the director now directly owns 86,000 shares in the company, valued at approximately $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at $5,502,605.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of hedge funds and other institutional investors have recently modified their holdings of MP. Pekin Hardy Strauss Inc. boosted its position in shares of MP Materials by 21.3% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 178,315 shares of the company’s stock worth $3,540,000 after acquiring an additional 31,355 shares during the last quarter. Amalgamated Bank lifted its position in shares of MP Materials by 1.0% during the fourth quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock worth $1,675,000 after purchasing an additional 798 shares in the last quarter. Peregrine Capital Management LLC lifted its position in shares of MP Materials by 35.3% during the fourth quarter. Peregrine Capital Management LLC now owns 27,622 shares of the company’s stock worth $548,000 after purchasing an additional 7,200 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MP Materials by 25.3% during the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after purchasing an additional 2,697,925 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of MP Materials by 1,000.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 66,000 shares of the company’s stock worth $1,351,000 after purchasing an additional 60,000 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.