MP Materials (NYSE:MP) Price Target Increased to $16.00 by Analysts at BMO Capital Markets

MP Materials (NYSE:MP) had its target price increased by BMO Capital Markets from $15.50 to $16.00 in a report issued on Monday, Benzinga reports. The firm currently has a market perform rating on the stock.

MP has been the topic of several other reports. Bank of America dropped their price objective on shares of MP Materials from $25.00 to $24.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley increased their price target on shares of MP Materials from $13.50 to $16.00 and gave the stock an equal weight rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on MP Materials from $13.50 to $12.50 and set a hold rating on the stock in a report on Tuesday, August 6th. Robert W. Baird increased their target price on MP Materials from $20.00 to $25.00 and gave the stock an outperform rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their price target on MP Materials from $16.00 to $15.00 and set a neutral rating on the stock in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $20.85.

MP Materials Price Performance

Shares of NYSE:MP opened at $16.94 on Monday. MP Materials has a one year low of $10.02 and a one year high of $20.85. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -112.93 and a beta of 2.23. The company has a 50-day simple moving average of $13.51 and a 200-day simple moving average of $14.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.17 and a current ratio of 6.90.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The company had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $40.03 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was down 51.2% on a year-over-year basis. On average, analysts predict that MP Materials will post -0.47 EPS for the current year.

MP Materials announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, COO Michael Stuart Rosenthal acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MP Materials in the second quarter valued at approximately $100,000. Sycomore Asset Management lifted its stake in shares of MP Materials by 27.8% during the 2nd quarter. Sycomore Asset Management now owns 37,180 shares of the company’s stock worth $468,000 after purchasing an additional 8,083 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of MP Materials by 26.3% during the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock worth $10,785,000 after purchasing an additional 176,219 shares during the last quarter. Aurora Investment Counsel increased its stake in MP Materials by 1.7% in the second quarter. Aurora Investment Counsel now owns 66,153 shares of the company’s stock valued at $842,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its position in MP Materials by 64.6% during the second quarter. Regal Investment Advisors LLC now owns 20,147 shares of the company’s stock worth $256,000 after buying an additional 7,906 shares during the period. 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.