MP Materials Corp. (NYSE:MP) Receives $22.10 Average PT from Brokerages

Shares of MP Materials Corp. (NYSE:MPGet Free Report) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.10.

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird boosted their price target on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley boosted their target price on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Finally, DA Davidson raised their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st.

Check Out Our Latest Analysis on MP

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 234,667 shares of MP Materials stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the sale, the chief executive officer now owns 17,608,409 shares of the company’s stock, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock valued at $17,484,482 in the last 90 days. 12.60% of the stock is currently owned by insiders.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC lifted its position in shares of MP Materials by 12.4% during the 4th quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company’s stock worth $248,000 after buying an additional 1,750 shares during the period. Wedmont Private Capital acquired a new position in MP Materials during the fourth quarter worth $159,000. GAMMA Investing LLC boosted its stake in shares of MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after purchasing an additional 1,545 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of MP Materials by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 72,826 shares of the company’s stock worth $1,285,000 after purchasing an additional 23,441 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of MP opened at $19.41 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -35.94 and a beta of 2.31. The business’s 50-day moving average is $18.89 and its 200-day moving average is $16.27. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $24.01.

About MP Materials

(Get Free Report

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.

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Analyst Recommendations for MP Materials (NYSE:MP)

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