Brokerages Set MP Materials Corp. (NYSE:MP) Price Target at $23.61

Shares of MP Materials Corp. (NYSE:MP) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.61.

A number of equities research analysts recently weighed in on MP shares. BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. DA Davidson lifted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,130,835 shares of company stock valued at $29,165,987. 12.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of MP Materials in the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. grew its position in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC raised its position in shares of MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after purchasing an additional 2,200 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 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 buying an additional 1,545 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 0.8 %

Shares of NYSE:MP opened at $25.97 on Friday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average is $23.96 and its 200 day moving average is $20.22. The stock has a market cap of $4.24 billion, a P/E ratio of -44.02 and a beta of 2.32. MP Materials has a 52-week low of $10.02 and a 52-week high of $27.29.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. Sell-side analysts predict that MP Materials will post -0.19 EPS for the current year.

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.