MP Materials Corp. (NYSE:MP) Receives $22.45 Consensus Price Target from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $22.45.

MP has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets increased their target price on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

MP Materials Trading Down 2.2 %

Shares of MP opened at $24.15 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a 1-year low of $10.02 and a 1-year high of $26.00. The company has a market capitalization of $3.94 billion, a P/E ratio of -44.72 and a beta of 2.34. The firm’s 50 day simple moving average is $19.90 and its 200 day simple moving average is $17.42.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of the 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 sale, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,271,085 shares of company stock valued at $26,757,696 in the last 90 days. Corporate insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

A number of hedge funds have recently added to or reduced their stakes in MP. Captrust Financial Advisors increased its holdings in shares of MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after purchasing an additional 557 shares in the last quarter. SWS Partners boosted its position in shares of MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after buying an additional 707 shares during the last quarter. Cutter & CO Brokerage Inc. increased its holdings in MP Materials by 0.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company’s stock worth $3,355,000 after buying an additional 910 shares in the last quarter. Pekin Hardy Strauss Inc. raised its position in MP Materials by 0.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after buying an additional 1,135 shares during the last quarter. Finally, KBC Group NV lifted its stake in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after acquiring an additional 1,246 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.