MP Materials Corp. (NYSE:MP) Receives $23.61 Average PT from Brokerages

MP Materials Corp. (NYSE:MP - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine brokerages that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.61.

MP has been the subject of several analyst reports. BMO Capital Markets boosted their price target on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a report on Thursday, March 20th. DA Davidson boosted their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th.

MP Materials Trading Down 4.4 %

Shares of MP stock traded down $1.16 during trading on Tuesday, hitting $24.86. 3,037,755 shares of the stock traded hands, compared to its average volume of 3,557,967. 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 firm has a market capitalization of $4.06 billion, a P/E ratio of -42.24 and a beta of 2.24. The firm's fifty day moving average price is $24.65 and its 200-day moving average price is $21.37. MP Materials has a 52-week low of $10.02 and a 52-week high of $29.72.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business 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%. As a group, research analysts forecast that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 386,223 shares of the business'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 sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,330,015 shares of company stock valued at $34,559,781 in the last quarter. Company insiders own 12.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after buying an additional 2,005,505 shares during the period. Victory Capital Management Inc. boosted its stake in MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock worth $37,945,000 after purchasing an additional 73,297 shares during the period. Dimensional Fund Advisors LP lifted its stake in MP Materials by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock worth $34,433,000 after acquiring an additional 176,121 shares in the last quarter. Invesco Ltd. boosted its position in MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after acquiring an additional 7,453 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after acquiring an additional 144,661 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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.