MP Materials Corp. (NYSE:MP) Given Average Recommendation of “Moderate Buy” by Brokerages

MP Materials Corp. (NYSE:MP) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.50.

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Morgan Stanley decreased their price target 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. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of MP Materials in a report on Tuesday, May 14th. JPMorgan Chase & Co. reduced their target price on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, BMO Capital Markets began coverage on shares of MP Materials in a research note on Monday, July 15th. They set a “market perform” rating and a $16.50 target price on the stock.

MP Materials Price Performance

Shares of MP stock opened at $13.79 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 10.29 and a quick ratio of 9.28. The company has a market capitalization of $2.28 billion, a P/E ratio of -91.93 and a beta of 2.22. The company’s 50-day simple moving average is $14.80 and its two-hundred day simple moving average is $15.49. MP Materials has a one year low of $12.09 and a one year high of $24.44.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The business had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. As a group, equities analysts anticipate that MP Materials will post -0.29 EPS for the current year.

Insider Buying and Selling at MP Materials

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

Institutional Investors Weigh In On MP Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MP. GAMMA Investing LLC purchased a new position in shares of MP Materials during the fourth quarter worth $26,000. TFO Wealth Partners LLC boosted its holdings in MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the period. CWM LLC boosted its holdings in MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its holdings in MP Materials by 2,335.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in 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 buying an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.