MP Materials Corp. (NYSE:MP) Receives $20.22 Average PT from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com 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 twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.22.

MP has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of MP Materials in a research report on Friday, August 2nd. Morgan Stanley dropped their target price on MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. decreased their price target on MP Materials from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Robert W. Baird dropped their price objective on MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Finally, Bank of America reduced their target price on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the sale, the chief financial officer now owns 325,021 shares in the company, valued at $5,502,605.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michael Stuart Rosenthal purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $10.84 per share, with a total value of $325,200.00. Following the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at $15,208,249. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MP Materials

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of MP Materials in the fourth quarter worth $26,000. TFO Wealth Partners LLC lifted its holdings in MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after purchasing an additional 1,537 shares in the last quarter. CWM LLC boosted its stake in MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC grew its holdings in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after buying an additional 1,985 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after buying an additional 2,224 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of MP opened at $12.47 on Thursday. The business’s fifty day moving average is $13.27 and its 200 day moving average is $14.91. MP Materials has a 12-month low of $10.02 and a 12-month high of $22.81. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.06 billion, a P/E ratio of -83.13 and a beta of 2.22.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The business had revenue of $31.26 million for the quarter, compared to analyst estimates of $40.03 million. MP Materials had a negative return on equity of 4.13% and a negative net margin of 21.94%. The business’s quarterly revenue was down 51.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. Sell-side analysts anticipate that MP Materials will post -0.34 earnings per share for the current fiscal 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.