BMO Capital Markets Forecasts Strong Price Appreciation for MP Materials (NYSE:MP) Stock

MP Materials (NYSE:MP - Get Free Report) had its price target increased by equities research analysts at BMO Capital Markets from $19.50 to $22.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 2.36% from the stock's previous close.

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

MP Materials Stock Down 0.4 %

MP traded down $0.08 on Monday, hitting $21.49. The company had a trading volume of 2,309,121 shares, compared to its average volume of 3,123,616. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -39.80 and a beta of 2.31. The stock has a fifty day moving average price of $19.22 and a 200-day moving average price of $16.71. MP Materials has a 12-month low of $10.02 and a 12-month high of $24.01. 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 (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). The firm had revenue of $62.93 million during the quarter, compared to analysts' expectations of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same period in the previous year, the firm earned $0.02 EPS. Analysts predict that MP Materials will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the sale, the chief executive officer now directly owns 18,221,776 shares of the company's stock, valued at $336,191,767.20. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares of the company's stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,862 shares of company stock worth $17,484,482. Corporate insiders own 12.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock worth $39,000 after buying an additional 1,285 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after acquiring an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after acquiring an additional 2,200 shares during the last quarter. Signaturefd LLC increased its position in shares of MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company's stock worth $65,000 after purchasing an additional 3,262 shares in the last quarter. Finally, KBC Group NV raised its stake in 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 during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

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.