MP Materials (NYSE:MP) Shares Gap Up – What’s Next?

MP Materials Corp. (NYSE:MP) shares gapped up before the market opened on Tuesday . The stock had previously closed at $23.99, but opened at $26.00. MP Materials shares last traded at $23.70, with a volume of 966,341 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.61.

MP Materials Stock Down 1.5 %

The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -39.76 and a beta of 2.24. The firm’s fifty day moving average price is $24.49 and its two-hundred day moving average price is $20.86. 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 (NYSE:MP) last posted its quarterly 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. Sell-side analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,835 shares of company stock worth $29,165,987 in the last ninety days. Corporate insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

Several institutional investors have recently modified their holdings of the business. RFG Advisory LLC bought a new position in MP Materials during the first quarter valued at about $1,042,000. NBC Securities Inc. grew its position in shares of MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,199 shares during the period. Mirador Capital Partners LP increased its stake in shares of MP Materials by 4.7% during the 1st quarter. Mirador Capital Partners LP now owns 24,263 shares of the company’s stock worth $592,000 after purchasing an additional 1,091 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of MP Materials by 40.4% in the 1st quarter. Parallel Advisors LLC now owns 5,734 shares of the company’s stock worth $140,000 after purchasing an additional 1,651 shares during the period. Finally, GAMMA Investing LLC lifted its stake in MP Materials by 3,618.1% in the first quarter. GAMMA Investing LLC now owns 140,358 shares of the company’s stock valued at $3,426,000 after purchasing an additional 136,583 shares during the last quarter. 52.55% of the stock is owned by 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.