MP Materials Corp. (NYSE:MP) Receives $23.43 Average Price Target from Analysts

MP Materials Corp. (NYSE:MP) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.50.

Several research analysts have recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Morgan Stanley decreased their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. downgraded shares of MP Materials from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $16.00 in a report on Tuesday, April 23rd. Bank of America decreased their price objective on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of MP Materials in a report on Tuesday, May 14th.

MP Materials Stock Up 7.3 %

MP Materials stock opened at $13.74 on Wednesday. The firm’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $16.03. MP Materials has a twelve month low of $12.09 and a twelve month high of $26.53. The firm has a market cap of $2.27 billion, a PE ratio of -91.59 and a beta of 2.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The business had revenue of $48.68 million for the quarter, compared to analyst estimates of $46.00 million. On average, research analysts predict that MP Materials will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now directly owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the completion of the transaction, the director now directly owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of MP Materials during the 4th quarter worth about $26,000. TFO Wealth Partners LLC increased its position in shares of MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after purchasing an additional 1,537 shares in the last quarter. CWM LLC increased its position in shares of MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of MP Materials by 2,316.7% during the 1st quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock worth $41,000 after purchasing an additional 1,985 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

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.