MP Materials (NYSE:MP) Price Target Lowered to $61.00 at Deutsche Bank Aktiengesellschaft

MP Materials (NYSE:MP) had its price objective decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $61.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 17.65% from the stock’s current price.

Several other equities analysts also recently issued reports on MP. DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of MP Materials in a report on Friday, June 5th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Wedbush boosted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC initiated coverage on shares of MP Materials in a research report on Monday, June 1st. They set a “buy” rating and a $81.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $79.54.

MP Materials Price Performance

NYSE:MP traded down $1.15 during trading hours on Thursday, reaching $51.85. The company had a trading volume of 2,215,589 shares, compared to its average volume of 6,679,896. The stock has a 50-day moving average of $60.67 and a two-hundred day moving average of $59.41. MP Materials has a one year low of $42.86 and a one year high of $100.25. The firm has a market capitalization of $9.23 billion, a PE ratio of -123.73 and a beta of 1.86. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The company had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. During the same period last year, the business earned ($0.12) earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. Analysts forecast that MP Materials will post -0.04 earnings per share for the current year.

Insider Activity

In other news, COO Michael Stuart Rosenthal acquired 17,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the transaction, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the sale, the chief financial officer directly owned 109,017 shares in the company, valued at approximately $8,176,275. This represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,205,167 shares of company stock valued at $79,371,654 in the last 90 days. 8.20% of the stock is owned by company insiders.

Institutional Trading of MP Materials

Institutional investors have recently made changes to their positions in the business. EMC Capital Management bought a new stake in shares of MP Materials during the 4th quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of MP Materials during the fourth quarter worth approximately $26,000. REAP Financial Group LLC acquired a new position in shares of MP Materials in the fourth quarter valued at approximately $26,000. Financial Consulate Inc. increased its stake in shares of MP Materials by 555.3% during the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in MP Materials during the 4th quarter worth approximately $28,000. Institutional investors own 52.55% of the company’s stock.

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.