MP Materials (NYSE:MP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

MP Materials (NYSE:MP) had its price target boosted by analysts at BMO Capital Markets from $22.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 8.22% from the stock’s previous close.

MP has been the topic of a number of other reports. Canaccord Genuity Group upped their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.61.

MP Materials Price Performance

NYSE:MP opened at $26.80 on Thursday. The business has a 50 day simple moving average of $23.11 and a 200-day simple moving average of $19.56. MP Materials has a 1 year low of $10.02 and a 1 year high of $27.41. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

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 the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million during the quarter, compared to analysts’ expectations of $50.71 million. Equities analysts forecast that MP Materials will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated Tuesday, February 4th. The stock was 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 owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,112,316 shares of company stock valued at $28,665,974. 12.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently modified their holdings of MP. KBC Group NV lifted its position in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after purchasing an additional 63,751 shares in the last quarter. Quest Partners LLC grew its position in shares of MP Materials by 806.0% in the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of MP Materials by 13.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock worth $8,923,000 after purchasing an additional 59,469 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its position in shares of MP Materials by 26.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company’s stock worth $1,821,000 after purchasing an additional 21,858 shares during the last quarter. Hedge funds and other institutional investors 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.