MP Materials Corp. (NYSE:MP) Given Average Rating of “Moderate Buy” by Analysts

Shares of MP Materials Corp. (NYSE:MP) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.40.

MP has been the subject of a number of research analyst reports. DA Davidson raised their price target on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $30.00 target price on shares of MP Materials in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley upped their target price on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a research note on Tuesday, August 6th.

MP Materials Price Performance

MP Materials stock opened at $19.66 on Friday. MP Materials has a 12-month low of $10.02 and a 12-month high of $20.85. The stock has a market cap of $3.21 billion, a P/E ratio of -36.41 and a beta of 2.23. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a fifty day simple moving average of $17.74 and a 200-day simple moving average of $15.39.

MP Materials declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

Several hedge funds have recently bought and sold shares of MP. Captrust Financial Advisors raised its position in MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after acquiring an additional 557 shares in the last quarter. Cutter & CO Brokerage Inc. raised its holdings in shares of MP Materials by 0.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company’s stock valued at $3,355,000 after purchasing an additional 910 shares in the last quarter. Elkhorn Partners Limited Partnership lifted its stake in shares of MP Materials by 15.9% in the 1st quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company’s stock valued at $114,000 after purchasing an additional 1,100 shares during the last quarter. Aurora Investment Counsel lifted its stake in shares of MP Materials by 1.7% in the 2nd 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, Pekin Hardy Strauss Inc. boosted its holdings in MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after purchasing an additional 1,135 shares in the last quarter. 52.55% of the stock is 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.