MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $18.20, but opened at $19.25. MP Materials shares last traded at $19.55, with a volume of 1,010,044 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on MP shares. Canaccord Genuity Group raised their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. DA Davidson raised their target price on MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Morgan Stanley increased their price target on MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. Finally, Robert W. Baird lifted their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average target price of $22.10.
Read Our Latest Analysis on MP Materials
MP Materials Price Performance
The firm has a market cap of $3.33 billion, a PE ratio of -37.81 and a beta of 2.31. 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's fifty day moving average is $18.71 and its 200-day moving average is $15.93.
Insider Buying and Selling
In related news, CEO James H. Litinsky sold 234,667 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total value of $4,852,913.56. Following the completion of the transaction, the chief executive officer now directly owns 17,608,409 shares of the company's stock, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company's stock, valued at $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On MP Materials
Several hedge funds have recently made changes to their positions in MP. GAMMA Investing LLC lifted its stake in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock worth $39,000 after purchasing an additional 1,285 shares in the last quarter. Signaturefd LLC increased its holdings in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company's stock worth $65,000 after purchasing an additional 3,262 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of MP Materials in the second quarter worth $72,000. KBC Group NV boosted its stake in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after buying an additional 1,246 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in MP Materials during the second quarter worth about $100,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
MP Materials Company Profile
(
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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.
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