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

MP Materials Corp. (NYSE:MP - Get Free Report) has received an average rating of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.10.

Several brokerages have commented on MP. Robert W. Baird upped their target price on shares of MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, September 27th. Canaccord Genuity Group upped their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Morgan Stanley raised their price objective on shares of MP Materials from $13.50 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their target price on MP Materials from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Finally, DA Davidson boosted their price target on MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 1st.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was 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 of the company's stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 884,862 shares of company stock valued at $17,484,482 in the last three months. Corporate insiders own 12.60% of the company's stock.

Institutional Trading of MP Materials

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC increased its position in MP Materials by 32.7% in the 3rd 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 during the period. Quest Partners LLC increased 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 purchasing an additional 38,204 shares during the period. Y Intercept Hong Kong Ltd bought a new position in MP Materials during the 3rd quarter worth $2,300,000. Principal Financial Group Inc. lifted its holdings in MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock worth $10,676,000 after buying an additional 159,200 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of MP Materials in the 2nd quarter valued at about $959,000. Institutional investors own 52.55% of the company's stock.

MP Materials Trading Up 2.1 %

Shares of MP Materials stock traded up $0.40 during trading on Friday, hitting $19.78. 2,088,488 shares of the company were exchanged, compared to its average volume of 4,342,028. 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 $3.23 billion, a P/E ratio of -36.63 and a beta of 2.31. The firm's fifty day moving average price is $18.85 and its 200 day moving average price is $16.17. MP Materials has a 1-year low of $10.02 and a 1-year high of $24.01.

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.