DA Davidson Issues Positive Forecast for MP Materials (NYSE:MP) Stock Price

MP Materials (NYSE:MP) had its target price boosted by DA Davidson from $25.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on MP. Canaccord Genuity Group upped 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. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.83.

MP Materials Price Performance

Shares of NYSE MP opened at $26.80 on Wednesday. The stock has a fifty day moving average of $23.11 and a 200-day moving average of $19.56. The stock has a market cap of $4.38 billion, a PE ratio of -45.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $27.41.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. Equities research analysts anticipate that MP Materials will post -0.19 earnings per share for the current year.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 489,918 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the sale, the chief executive officer now owns 15,153,158 shares of the company’s stock, valued at $405,650,039.66. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,112,316 shares of company stock valued at $28,665,974. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MP. KBC Group NV boosted its stake in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after purchasing an additional 1,246 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after buying an additional 63,751 shares during the period. Quest Partners LLC grew its stake 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 buying an additional 38,204 shares during the last quarter. Segall Bryant & Hamill LLC increased 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 worth $21,988,000 after buying an additional 306,933 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of MP Materials by 13.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock valued at $8,923,000 after acquiring an additional 59,469 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.