Analysts Set MP Materials Corp. (NYSE:MP) PT at $22.45

MP Materials Corp. (NYSE:MP - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.45.

A number of research analysts have weighed in on MP shares. JPMorgan Chase & Co. raised their price target on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. BMO Capital Markets boosted their target price on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th.

MP Materials Stock Down 0.9 %

Shares of MP stock traded down $0.21 during trading on Thursday, reaching $23.90. The company's stock had a trading volume of 3,881,800 shares, compared to its average volume of 2,852,481. MP Materials has a one year low of $10.02 and a one year high of $24.80. The business has a fifty day moving average price of $19.72 and a 200-day moving average price of $17.21. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -44.27 and a beta of 2.34. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $62.93 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.02 earnings per share. Analysts anticipate that MP Materials will post -0.54 earnings per share for the current year.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,271,085 shares of company stock valued at $26,757,696 over the last ninety days. 12.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock valued at $39,000 after acquiring an additional 1,285 shares during the period. SBI Securities Co. Ltd. acquired a new stake in MP Materials in the fourth quarter valued at $40,000. Geneos Wealth Management Inc. raised its position in MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after purchasing an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after buying an additional 2,200 shares during the period. Finally, Signaturefd LLC grew its position in shares of 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 buying an additional 3,262 shares during the last quarter. Institutional investors and hedge funds 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.