MP Materials Corp. (NYSE:MP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.10.

A number of research firms have recently issued reports on MP. DA Davidson upped their price target on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley lifted their target price on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Robert W. Baird upped their price objective on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th.

MP Materials Trading Up 2.1 %

MP Materials stock opened at $19.78 on Friday. The stock has a 50-day moving average price of $18.85 and a 200 day moving average price of $16.15. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -36.63 and a beta of 2.31. MP Materials has a 52 week low of $10.02 and a 52 week high of $24.01. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,043,076 shares in the company, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This trade represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock valued at $17,484,482 in the last ninety days. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of MP Materials by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock worth $41,638,000 after purchasing an additional 28,697 shares during the period. Dimensional Fund Advisors LP grew its stake in MP Materials by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after buying an additional 71,454 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after buying an additional 306,933 shares during the period. Bank of Montreal Can lifted its stake in MP Materials by 188.1% in the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after buying an additional 586,906 shares during the last quarter. Finally, 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 valued at $10,785,000 after acquiring an additional 176,219 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

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.