DA Davidson Reaffirms Buy Rating for MP Materials (NYSE:MP)

MP Materials (NYSE:MP)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a report released on Thursday,Benzinga reports. They currently have a $82.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 48.34% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $71.00 in a report on Monday, November 10th. Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Bank of America lifted their price target on shares of MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Canaccord Genuity Group increased their price objective on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.82.

MP Materials Stock Performance

NYSE:MP opened at $55.28 on Thursday. The company has a market cap of $9.80 billion, a P/E ratio of -77.86 and a beta of 2.26. The firm’s 50 day moving average is $68.63 and its two-hundred day moving average is $53.94. MP Materials has a fifty-two week low of $15.56 and a fifty-two week high of $100.25. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The business had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS. Analysts expect that MP Materials will post -0.19 EPS for the current year.

Insider Activity

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction 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 approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 248,411 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $63.86, for a total transaction of $15,863,526.46. Following the completion of the transaction, the chief executive officer owned 13,369,665 shares of the company’s stock, valued at $853,786,806.90. This trade represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 418,411 shares of company stock worth $27,820,926 over the last 90 days. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Highline Wealth Partners LLC acquired a new stake in MP Materials during the 2nd quarter valued at approximately $25,000. Sound Income Strategies LLC grew its position in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after buying an additional 294 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after buying an additional 506 shares in the last quarter. MAI Capital Management increased its stake in shares of MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after buying an additional 800 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in MP Materials by 181.3% in the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after acquiring an additional 651 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.