DA Davidson Forecasts Strong Price Appreciation for MP Materials (NYSE:MP) Stock

MP Materials (NYSE:MP) had its price objective boosted by analysts at DA Davidson from $25.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 22.04% from the company’s current price.

Several other research firms also recently commented on MP. Canaccord Genuity Group increased their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased their target price 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Price Performance

MP Materials stock opened at $26.22 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials has a 52 week low of $10.02 and a 52 week high of $27.29. The stock has a market capitalization of $4.29 billion, a P/E ratio of -44.44 and a beta of 2.32. The stock has a fifty day moving average of $23.24 and a 200-day moving average of $19.60.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, sell-side analysts expect that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at $5,799,924. This trade represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,112,316 shares of company stock worth $28,665,974 over the last ninety days. 12.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MP Materials

Several large investors have recently added to or reduced their stakes in MP. Quadrant Capital Group LLC grew its stake in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after acquiring an additional 701 shares during the period. SBI Securities Co. Ltd. acquired a new stake in MP Materials in the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. grew its stake in 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 acquiring an additional 1,849 shares during the period. Nisa Investment Advisors LLC grew 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 acquiring an additional 2,200 shares during the period. Finally, GAMMA Investing LLC grew its stake in MP Materials by 69.3% in 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. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.