Analysts Set MP Materials Corp. (NYSE:MP) Target Price at $78.91

MP Materials Corp. (NYSE:MP) has earned a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $78.9091.

A number of equities research analysts have weighed in on MP shares. Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $68.50 to $71.00 in a research note on Friday, December 5th. JPMorgan Chase & Co. raised shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $75.00 to $74.00 in a research note on Friday, November 14th. The Goldman Sachs Group initiated coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 price target for the company. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $76.00 to $75.00 in a report on Monday, November 24th.

MP Materials Price Performance

Shares of NYSE:MP opened at $58.03 on Monday. The firm has a market capitalization of $10.28 billion, a PE ratio of -81.73 and a beta of 1.60. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. MP Materials has a 1-year low of $18.64 and a 1-year high of $100.25. The business’s 50 day moving average is $59.66 and its 200-day moving average is $64.80.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at $9,399,960. This trade represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the transaction, the chief executive officer owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 723,146 shares of company stock worth $45,767,276 over the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC raised its stake in shares of MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in MP Materials in the 4th quarter worth approximately $26,000. REAP Financial Group LLC acquired a new position in MP Materials during the 4th quarter worth $26,000. Financial Consulate Inc. boosted its position in MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in MP Materials in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.