MP Materials (NYSE:MP) Sets New 12-Month High - Here's Why

MP Materials Corp. (NYSE:MP - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $26.29 and last traded at $26.18, with a volume of 2250449 shares changing hands. The stock had previously closed at $24.38.

Analysts Set New Price Targets

A number of research analysts have weighed in on MP shares. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.45.

MP Materials Stock Performance

The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.65 and a beta of 2.32. The stock's fifty day moving average is $22.71 and its two-hundred day moving average is $19.26. 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 earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. On average, analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

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Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.60% of the company's stock.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of MP. Quadrant Capital Group LLC boosted its position in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of MP Materials in the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. boosted its position in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after acquiring an additional 1,849 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares during the period. Finally, GAMMA Investing LLC lifted its position in MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after purchasing an additional 1,545 shares during the period. Institutional investors 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.