MP Materials (NYSE:MP) Price Target Raised to $22.00

MP Materials (NYSE:MP) had its price target hoisted by BMO Capital Markets from $19.50 to $22.00 in a report released on Monday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group raised their price target 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. DA Davidson raised their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.45.

MP Materials Stock Performance

NYSE MP opened at $20.72 on Monday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -38.36 and a beta of 2.31. The company has a 50 day moving average of $19.33 and a 200-day moving average of $16.78. 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 has a 1-year low of $10.02 and a 1-year high of $24.01.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the prior year, the business earned $0.02 EPS. On average, equities analysts forecast that MP Materials will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 15,195 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the sale, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,043,076 shares in the company, valued at $364,830,996.72. This represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 884,862 shares of company stock valued at $17,484,482 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MP Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of MP Materials by 136.0% during 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 during the last quarter. Geneos Wealth Management Inc. boosted its holdings in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC boosted its holdings in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares during the period. Signaturefd LLC boosted its holdings in MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the period. Finally, KBC Group NV lifted its holdings in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after acquiring an additional 1,246 shares during the period. 52.55% of the stock is owned by institutional investors.

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.