MP Materials (NYSE:MP) Stock Price Expected to Rise, DA Davidson Analyst Says

MP Materials (NYSE:MP - Get Free Report) had its price target raised by analysts at DA Davidson from $25.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 23.96% from the company's current price.

MP has been the subject of several other research reports. BMO Capital Markets increased their target price on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Canaccord Genuity Group increased their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average target price of $23.61.

MP Materials Trading Down 1.7 %

Shares of MP traded down $0.44 during mid-day trading on Wednesday, reaching $25.81. The stock had a trading volume of 4,608,256 shares, compared to its average volume of 3,102,723. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a 52-week low of $10.02 and a 52-week high of $27.29. The business's fifty day moving average is $23.36 and its 200 day moving average is $19.78. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -43.75 and a beta of 2.32.

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MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, sell-side analysts predict that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares of the company's stock, valued at $5,799,924. This trade represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,112,316 shares of company stock valued at $28,665,974. 12.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MP Materials

Several hedge funds have recently added to or reduced their stakes in MP. KBC Group NV raised its holdings in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after acquiring an additional 1,246 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in MP Materials by 197.0% in the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company's stock valued at $1,696,000 after acquiring an additional 63,751 shares in the last quarter. Quest Partners LLC raised its holdings in MP Materials by 806.0% in the third quarter. Quest Partners LLC now owns 42,944 shares of the company's stock valued at $758,000 after acquiring an additional 38,204 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock valued at $21,988,000 after acquiring an additional 306,933 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in MP Materials by 13.3% in the third 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 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.