MP Materials (NYSE:MP) Sets New 52-Week High – Should You Buy?

MP Materials Corp. (NYSE:MP) hit a new 52-week high on Friday . The company traded as high as $26.29 and last traded at $26.18, with a volume of 2250449 shares changing hands. The stock had previously closed at $24.38.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MP shares. BMO Capital Markets lifted their target price on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group boosted their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Trading Up 10.5 %

The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.65 and a beta of 2.32. The company has a 50-day moving average price of $22.53 and a 200-day moving average price of $19.12.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Aegis Wealth Management LLC acquired a new position in shares of MP Materials in the 4th quarter worth approximately $156,000. Pullen Investment Management LLC raised its stake in MP Materials by 32.4% during the fourth quarter. Pullen Investment Management LLC now owns 31,026 shares of the company’s stock worth $484,000 after acquiring an additional 7,590 shares in the last quarter. JT Stratford LLC lifted its holdings in shares of MP Materials by 0.7% during the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock valued at $993,000 after acquiring an additional 424 shares during the period. Delta Investment Management LLC boosted its stake in shares of MP Materials by 3.6% in the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company’s stock valued at $344,000 after purchasing an additional 767 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of MP Materials during the 4th quarter worth about $5,524,000. 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.