BMO Capital Markets Forecasts Strong Price Appreciation for MP Materials (NYSE:MP) Stock

MP Materials (NYSE:MPGet Free Report) had its target price increased by research analysts at BMO Capital Markets from $19.50 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 5.64% from the company’s previous close.

Several other brokerages also recently weighed in on MP. DA Davidson lifted their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Canaccord Genuity Group increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

Read Our Latest Stock Analysis on MP

MP Materials Stock Performance

NYSE:MP opened at $20.83 on Monday. MP Materials has a 1-year low of $10.02 and a 1-year high of $24.01. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -38.57 and a beta of 2.31. The company’s 50-day moving average is $19.28 and its two-hundred day moving average is $16.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials (NYSE:MPGet Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. The firm had revenue of $62.93 million for the quarter, compared to analysts’ expectations of $45.30 million. During the same quarter last year, the business earned $0.02 earnings per share. Analysts forecast that MP Materials will post -0.54 EPS for the current year.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the sale, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 884,862 shares of company stock valued at $17,484,482. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in MP Materials by 1.2% during the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock valued at $41,638,000 after buying an additional 28,697 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MP Materials by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after purchasing an additional 71,454 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of MP Materials by 188.1% during the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares during the period. Finally, Clearbridge Investments LLC grew its position in MP Materials by 26.3% during the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock valued at $10,785,000 after purchasing an additional 176,219 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

(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.

Further Reading

Analyst Recommendations for MP Materials (NYSE:MP)

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