MP Materials Corp. (NYSE:MP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.10.

A number of equities analysts have commented on the stock. Canaccord Genuity Group boosted their target price 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. Robert W. Baird increased their target price on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Morgan Stanley raised their target price on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. DA Davidson increased their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets boosted their target price on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction 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 represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,862 shares of company stock worth $17,484,482 over the last three months. 12.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after buying an additional 3,956 shares in the last quarter. Signaturefd LLC grew its position in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares during the period. Point72 Hong Kong Ltd purchased a new position in MP Materials in the second quarter valued at $72,000. Finally, KBC Group NV increased its holdings in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Trading Down 2.1 %

MP opened at $15.84 on Wednesday. MP Materials has a 12 month low of $10.02 and a 12 month high of $24.01. The stock has a fifty day moving average price of $19.08 and a 200-day moving average price of $15.77. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -29.33 and a beta of 2.24. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

MP Materials declared that its Board of Directors has authorized a share repurchase plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About MP Materials

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.