MP Materials (NYSE:MP) Stock Rating Upgraded by Wall Street Zen

MP Materials (NYSE:MP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group assumed coverage on MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. TD Securities raised MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Finally, William Blair reiterated an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of “Buy” and an average price target of $78.91.

MP Materials Stock Performance

Shares of MP stock opened at $60.35 on Friday. MP Materials has a 12-month low of $18.64 and a 12-month high of $100.25. The business’s fifty day simple moving average is $60.96 and its 200-day simple moving average is $63.64. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.70 billion, a PE ratio of -116.06 and a beta of 1.55.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the sale, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC boosted its position in MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 294 shares during the last quarter. Grove Bank & Trust purchased a new position in MP Materials during the 3rd quarter worth approximately $34,000. EMC Capital Management acquired a new stake in MP Materials during the 4th quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in MP Materials during the 4th quarter valued at approximately $26,000. Finally, REAP Financial Group LLC purchased a new stake in shares of MP Materials in the 4th quarter valued at $26,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

About MP Materials

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.