Analysts Set MP Materials Corp. (NYSE:MP) PT at $20.85

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten analysts that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.85.

MP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MP Materials from $13.50 to $12.50 and set a "hold" rating for the company in a research report on Tuesday, August 6th. Morgan Stanley lifted their price objective on MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. Robert W. Baird increased their target price on MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Bank of America dropped their price target on MP Materials from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, June 26th. Finally, Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of MP Materials in a research report on Friday, August 2nd.

MP Materials Stock Up 2.4 %

MP stock traded up $0.41 during mid-day trading on Friday, reaching $17.38. The company had a trading volume of 2,314,047 shares, compared to its average volume of 3,391,332. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -115.83 and a beta of 2.23. MP Materials has a 52 week low of $10.02 and a 52 week high of $20.85. The stock has a 50 day simple moving average of $13.51 and a two-hundred day simple moving average of $14.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.08). MP Materials had a negative return on equity of 4.28% and a negative net margin of 21.94%. The business had revenue of $31.26 million for the quarter, compared to the consensus estimate of $40.03 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company's revenue for the quarter was down 51.2% on a year-over-year basis. As a group, equities analysts predict that MP Materials will post -0.47 earnings per share for the current fiscal year.

MP Materials announced that its board has approved a stock buyback plan on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at MP Materials

In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of MP Materials stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the completion of the transaction, the chief operating officer now owns 1,402,975 shares in the company, valued at $15,208,249. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in MP Materials by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company's stock worth $270,669,000 after acquiring an additional 254,881 shares during the last quarter. Old West Investment Management LLC increased its stake in shares of MP Materials by 56.3% in the fourth quarter. Old West Investment Management LLC now owns 250,000 shares of the company's stock worth $4,962,000 after buying an additional 90,000 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of MP Materials by 15.6% in the first quarter. Commonwealth Equity Services LLC now owns 62,091 shares of the company's stock worth $888,000 after buying an additional 8,376 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MP Materials by 2,536.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company's stock valued at $23,767,000 after buying an additional 1,598,861 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in MP Materials by 12.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company's stock valued at $675,000 after buying an additional 5,200 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.