MP Materials (NYSE:MP) Stock Price Expected to Rise, Bank of America Analyst Says

MP Materials (NYSE:MP) had its price objective raised by investment analysts at Bank of America from $78.00 to $112.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 33.57% from the stock’s current price.

Several other research firms have also issued reports on MP. Deutsche Bank Aktiengesellschaft lifted their price target on MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Benchmark reiterated a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Robert W. Baird boosted their target price on MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, BMO Capital Markets assumed coverage on MP Materials in a research report on Thursday, October 9th. They issued a “market perform” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

MP Materials Price Performance

MP opened at $83.85 on Wednesday. The stock has a 50-day moving average price of $71.81 and a 200-day moving average price of $46.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The firm has a market cap of $14.85 billion, a PE ratio of -133.10 and a beta of 2.32. MP Materials has a 1 year low of $15.56 and a 1 year high of $100.25.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.MP Materials’s quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. Sell-side analysts predict that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently made changes to their positions in the company. Sound Income Strategies LLC lifted its position in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 294 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of MP Materials during the 3rd quarter valued at about $34,000. Hilltop National Bank lifted its position in shares of MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after buying an additional 500 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of MP Materials during the 2nd quarter valued at about $25,000. Finally, AdvisorNet Financial Inc lifted its position in shares of MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after buying an additional 506 shares in the last quarter. 52.55% of the stock is currently owned by 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.