MP Materials Corp. (NYSE:MP) Receives $78.73 Consensus Target Price from Analysts

MP Materials Corp. (NYSE:MP) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $78.9091.

A number of research firms have weighed in on MP. Daiwa Capital Markets initiated coverage on MP Materials in a report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $71.00 in a research note on Monday, November 10th. Daiwa America raised shares of MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $68.50 to $71.00 in a report on Friday, December 5th.

MP Materials Trading Down 2.2%

NYSE:MP opened at $59.85 on Wednesday. The business’s 50-day moving average is $66.20 and its two-hundred day moving average is $57.67. The firm has a market capitalization of $10.61 billion, a PE ratio of -84.30 and a beta of 1.70. MP Materials has a 12 month low of $15.56 and a 12 month high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. The company had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The company’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Research analysts predict that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ryan Corbett sold 20,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $57.72, for a total value of $1,154,400.00. Following the completion of the transaction, the chief financial officer owned 194,812 shares of the company’s stock, valued at approximately $11,244,548.64. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 385,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the sale, the chief executive officer owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This trade represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 653,411 shares of company stock worth $41,249,826. Insiders own 12.60% of the company’s stock.

Institutional Trading of MP Materials

A number of hedge funds have recently made changes to their positions in MP. Highline Wealth Partners LLC bought a new position in MP Materials during the 2nd quarter valued at $25,000. Sound Income Strategies LLC raised its stake in shares of MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after purchasing an additional 506 shares in the last quarter. MAI Capital Management lifted its position in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Spire Wealth Management grew its stake in MP Materials by 181.3% in the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.