Brokerages Set MP Materials Corp. (NYSE:MP) PT at $79.54

MP Materials Corp. (NYSE:MP) has earned a consensus rating of “Buy” from the nineteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $79.4231.

Several equities research analysts have recently issued reports on MP shares. Morgan Stanley raised their price objective on shares of MP Materials from $70.00 to $71.50 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Wedbush upped their target price on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a report on Friday, July 17th. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a research report on Friday, June 5th. Finally, Citigroup restated a “positive” rating on shares of MP Materials in a report on Wednesday, July 15th.

Insider Buying and Selling

In other news, COO Michael Stuart Rosenthal purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $54.30 per share, for a total transaction of $543,000.00. Following the completion of the purchase, the chief operating officer directly owned 136,622 shares of the company’s stock, valued at approximately $7,418,574.60. The trade was a 7.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. This represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 905,167 shares of company stock valued at $60,161,837 over the last three months. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Center for Financial Planning Inc. bought a new position in MP Materials in the second quarter worth $71,000. Oak Thistle LLC bought a new stake in MP Materials in the 2nd quarter valued at $1,543,000. IFP Advisors Inc raised its stake in shares of MP Materials by 15.4% in the 2nd quarter. IFP Advisors Inc now owns 40,676 shares of the company’s stock valued at $2,278,000 after buying an additional 5,419 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of MP Materials by 8.4% in the 2nd quarter. Merit Financial Group LLC now owns 5,421 shares of the company’s stock valued at $304,000 after buying an additional 418 shares in the last quarter. Finally, Ticino Wealth lifted its holdings in shares of MP Materials by 4.8% during the 2nd quarter. Ticino Wealth now owns 40,485 shares of the company’s stock worth $2,268,000 after acquiring an additional 1,872 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

MP opened at $45.66 on Thursday. The firm has a market capitalization of $8.13 billion, a P/E ratio of -108.70 and a beta of 1.86. The stock’s 50 day moving average price is $57.05 and its two-hundred day moving average price is $59.09. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. MP Materials has a 12-month low of $43.82 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The company had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. During the same period in the previous year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities analysts forecast that MP Materials will post 0.04 earnings per share for the current year.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.