MP Materials (NYSE:MP) Shares Gap Up to $12.73

MP Materials Corp. (NYSE:MP) gapped up prior to trading on Monday . The stock had previously closed at $12.73, but opened at $13.25. MP Materials shares last traded at $13.19, with a volume of 488,642 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on MP. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Canaccord Genuity Group cut their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Bank of America cut their price target on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group cut their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut shares of MP Materials from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

MP Materials Trading Up 7.3 %

The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -91.59 and a beta of 2.23. The company’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $16.03.

MP Materials (NYSE:MP) last announced 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 during the quarter, compared to the consensus estimate of $46.00 million. Research analysts expect that MP Materials Corp. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction on Tuesday, May 28th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction on Tuesday, May 28th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the transaction, the director now directly owns 86,000 shares in the company, valued at $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

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in MP Materials in the 4th quarter valued at $26,000. TFO Wealth Partners LLC increased its stake in MP Materials by 153,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC increased its stake in MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after buying an additional 766 shares during the last quarter. Global Retirement Partners LLC increased its stake in MP Materials by 2,316.7% in the 1st quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after buying an additional 2,224 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in MP Materials by 2,335.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after buying an additional 1,985 shares during 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.