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

MP Materials Corp. (NYSE:MP) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.45.

A number of equities analysts have recently commented on MP shares. JPMorgan Chase & Co. raised their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. BMO Capital Markets raised their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group upped their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 234,667 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the transaction, the chief executive officer now owns 17,608,409 shares of the company’s stock, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 884,862 shares of company stock valued at $17,484,482. Insiders own 12.60% of the company’s stock.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. Geneos Wealth Management Inc. increased its position in MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC lifted its stake in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after acquiring an additional 3,262 shares during the period. Finally, KBC Group NV grew its position in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after acquiring an additional 1,246 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Performance

Shares of NYSE:MP opened at $23.51 on Thursday. The business has a 50-day moving average of $19.59 and a two-hundred day moving average of $17.05. The firm has a market capitalization of $3.84 billion, a PE ratio of -43.54 and a beta of 2.34. 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 has a 12 month low of $10.02 and a 12 month high of $24.78.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The business had revenue of $62.93 million for the quarter, compared to analyst estimates of $45.30 million. During the same period last year, the company posted $0.02 EPS. As a group, research analysts forecast that MP Materials will post -0.54 earnings per share for the current year.

About MP Materials

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.