MP Materials (NYSE:MP) Price Target Raised to $18.00

MP Materials (NYSE:MP) had its target price upped by JPMorgan Chase & Co. from $15.00 to $18.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of MP Materials in a report on Friday, August 2nd. BMO Capital Markets boosted their price target on shares of MP Materials from $15.50 to $16.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Robert W. Baird boosted their price target on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Morgan Stanley upped their target price on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $21.15.

MP Materials Stock Performance

MP opened at $17.88 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The firm has a fifty day moving average price of $15.06 and a 200 day moving average price of $14.97. MP Materials has a 1 year low of $10.02 and a 1 year high of $20.85. The stock has a market cap of $2.96 billion, a P/E ratio of -119.17 and a beta of 2.23.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was down 51.2% on a year-over-year basis. Equities research analysts anticipate that MP Materials will post -0.48 earnings per share for the current year.

MP Materials declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 3rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, COO Michael Stuart Rosenthal bought 30,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $10.84 per share, with a total value of $325,200.00. Following the completion of the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at $15,208,249. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in MP Materials by 56.2% in the third quarter. Louisiana State Employees Retirement System now owns 59,200 shares of the company’s stock valued at $1,045,000 after buying an additional 21,300 shares during the last quarter. Signaturefd LLC grew its holdings in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in MP Materials during the 3rd quarter worth approximately $313,000. Secure Asset Management LLC lifted its holdings in MP Materials by 8.5% during the 3rd quarter. Secure Asset Management LLC now owns 101,125 shares of the company’s stock worth $1,785,000 after buying an additional 7,896 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in MP Materials by 2.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 62,964 shares of the company’s stock valued at $1,111,000 after buying an additional 1,436 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

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.