Robert W. Baird Forecasts Strong Price Appreciation for MP Materials (NYSE:MP) Stock

MP Materials (NYSE:MP) had its price objective upped by Robert W. Baird from $30.00 to $38.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

MP has been the topic of several other research reports. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. JPMorgan Chase & Co. cut their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Finally, DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average price target of $27.06.

MP Materials Stock Performance

MP stock opened at $37.19 on Tuesday. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The business’s fifty day simple moving average is $24.54 and its two-hundred day simple moving average is $22.90. MP Materials has a twelve month low of $10.02 and a twelve month high of $39.10. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of -57.22 and a beta of 2.14.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $60.81 million for the quarter, compared to analysts’ expectations of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) EPS. Analysts predict that MP Materials will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 199,180 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On MP Materials

Hedge funds have recently modified their holdings of the stock. NBC Securities Inc. increased its holdings in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,199 shares in the last quarter. MAI Capital Management increased its holdings in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after acquiring an additional 800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of MP Materials during the first quarter valued at about $35,000. Banque Cantonale Vaudoise acquired a new position in shares of MP Materials during the first quarter valued at about $35,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds 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.