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

MP Materials Corp. (NYSE:MP)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $58.51, but opened at $62.00. MP Materials shares last traded at $64.8950, with a volume of 9,148,892 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MP. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of MP Materials in a research note on Wednesday. They set a “buy” rating and a $77.00 target price on the stock. Daiwa Capital Markets assumed coverage on shares of MP Materials in a report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, Cowen reissued a “buy” rating on shares of MP Materials in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.82.

MP Materials Trading Up 9.1%

The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.31 billion, a PE ratio of -89.36 and a beta of 2.26. The business’s 50-day moving average is $68.90 and its two-hundred day moving average is $53.64.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business had revenue of $53.55 million for the quarter, compared to analysts’ expectations of $49.72 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its holdings in shares of MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 294 shares during the last quarter. Grove Bank & Trust purchased a new stake in MP Materials in the 3rd quarter valued at approximately $34,000. SJS Investment Consulting Inc. grew its holdings in MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after acquiring an additional 552 shares during the period. Hilltop National Bank boosted 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 worth $40,000 after purchasing an additional 500 shares in the last quarter. Finally, Montag A & Associates Inc. grew its stake in shares of MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. 52.55% of the stock is 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.