MP Materials (NYSE:MP) Shares Gap Up – Time to Buy?

MP Materials Corp. (NYSE:MPGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $18.20, but opened at $19.25. MP Materials shares last traded at $19.55, with a volume of 1,010,044 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. BMO Capital Markets boosted their price target on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Canaccord Genuity Group boosted their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley boosted their price target on 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, JPMorgan Chase & Co. boosted their price target on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Four equities research 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, MP Materials has a consensus rating of “Moderate Buy” and an average price target of $22.10.

View Our Latest Stock Report on MP

MP Materials Stock Up 13.0 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The firm has a market capitalization of $3.36 billion, a P/E ratio of -38.07 and a beta of 2.31. The stock has a fifty day moving average price of $18.71 and a two-hundred day moving average price of $15.93.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,862 shares of company stock worth $17,484,482 in the last three months. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MP. Segall Bryant & Hamill LLC lifted its holdings 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 valued at $21,988,000 after buying an additional 306,933 shares during the period. Quest Partners LLC lifted its holdings in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of MP Materials during the third quarter valued at $2,300,000. Principal Financial Group Inc. lifted its holdings in shares of MP Materials by 35.7% during the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of MP Materials during the second quarter valued at $959,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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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