MP Materials Corp. (NYSE:MP) Given Consensus Rating of "Moderate Buy" by Analysts

MP Materials Corp. (NYSE:MP - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $21.40.

Several research analysts have commented on MP shares. Canaccord Genuity Group cut their target price on MP Materials from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Morgan Stanley raised their price objective on shares of MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of MP Materials from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Robert W. Baird raised their price target on shares of MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, September 27th. Finally, DA Davidson boosted their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 18,221,776 shares of the company's stock, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company's stock.

Institutional Investors Weigh In On MP Materials

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its holdings in MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock worth $207,000 after acquiring an additional 557 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its holdings in shares of MP Materials by 0.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company's stock worth $3,355,000 after purchasing an additional 910 shares during the period. Elkhorn Partners Limited Partnership grew its stake in shares of MP Materials by 15.9% in the first quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company's stock worth $114,000 after purchasing an additional 1,100 shares during the last quarter. Aurora Investment Counsel raised its position in MP Materials by 1.7% during the 2nd quarter. Aurora Investment Counsel now owns 66,153 shares of the company's stock valued at $842,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in MP Materials by 0.4% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company's stock valued at $4,509,000 after purchasing an additional 1,135 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Stock Performance

Shares of MP Materials stock traded up $0.91 during trading hours on Friday, reaching $19.64. The company had a trading volume of 2,339,902 shares, compared to its average volume of 2,327,093. The firm has a market cap of $3.21 billion, a PE ratio of -36.41 and a beta of 2.23. MP Materials has a one year low of $10.02 and a one year high of $20.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The business has a fifty day simple moving average of $17.74 and a 200 day simple moving average of $15.39.

MP Materials announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.