Brokerages Set MP Materials Corp. (NYSE:MP) Price Target at $22.45

MP Materials Corp. (NYSE:MP) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.45.

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets boosted their target price on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

MP Materials Stock Up 2.6 %

MP Materials stock opened at $25.03 on Monday. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00. The stock has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $18.88. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -42.43 and a beta of 2.32.

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

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MP Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JT Stratford LLC increased its stake in shares of MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock worth $993,000 after purchasing an additional 424 shares in the last quarter. Captrust Financial Advisors increased its stake in MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after buying an additional 557 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in MP Materials by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock worth $322,000 after buying an additional 662 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after acquiring an additional 701 shares during the period. Finally, SWS Partners lifted its position in shares of MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

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.