MP Materials Corp. (NYSE:MP) Receives $23.61 Average Target Price from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $23.61.

A number of brokerages recently commented on MP. BMO Capital Markets boosted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. DA Davidson boosted their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th.

MP Materials Stock Performance

Shares of MP Materials stock opened at $25.16 on Friday. MP Materials has a 12 month low of $10.02 and a 12 month high of $27.29. 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 stock has a market cap of $4.11 billion, a PE ratio of -42.64 and a beta of 2.32. The business has a fifty day simple moving average of $24.12 and a 200-day simple moving average of $20.38.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, sell-side analysts anticipate that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 18,519 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total transaction of $500,013.00. Following the completion of the sale, the chief executive officer now directly owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. This represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,130,835 shares of company stock worth $29,165,987. Corporate insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

A number of institutional investors have recently made changes to their positions in MP. Quadrant Capital Group LLC increased its position in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after acquiring an additional 701 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials during the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. lifted its stake in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC grew its position in MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after buying an additional 2,200 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after acquiring an additional 1,545 shares during the period. 52.55% of the stock is currently owned by 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.