Brokerages Set MP Materials Corp. (NYSE:MP) Target Price at $80.08

MP Materials Corp. (NYSE:MP) has earned an average recommendation of “Buy” from the eighteen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $80.0769.

Several equities analysts recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a research report on Wednesday, May 20th. TD Securities upgraded MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a research report on Friday, May 8th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research report on Tuesday, May 12th.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal bought 17,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the transaction, the chief operating officer owned 1,333,673 shares of the company’s stock, valued at approximately $75,512,565.26. This trade represents a 1.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 259,179 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $64.03, for a total value of $16,595,231.37. Following the transaction, the chief executive officer owned 12,505,965 shares in the company, valued at $800,756,938.95. The trade was a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,066,000 shares of company stock worth $69,329,207 in the last quarter. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in MP. Costello Asset Management INC grew its position in MP Materials by 15.0% in the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock worth $66,000 after buying an additional 170 shares during the last quarter. Composition Wealth LLC grew its position in MP Materials by 0.9% in the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock worth $926,000 after buying an additional 172 shares during the last quarter. IMG Wealth Management Inc. grew its position in MP Materials by 4.7% in the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after buying an additional 200 shares during the last quarter. ARS Investment Partners LLC grew its position in MP Materials by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after buying an additional 200 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Down 3.4%

MP opened at $64.57 on Wednesday. The business’s 50-day simple moving average is $59.36 and its 200-day simple moving average is $59.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. MP Materials has a one year low of $19.60 and a one year high of $100.25. The stock has a market capitalization of $11.50 billion, a P/E ratio of -153.75 and a beta of 1.90.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million for the quarter, compared to analysts’ expectations of $74.82 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 49.1% compared to the same quarter last year. Analysts anticipate that MP Materials will post -0.04 EPS for the current year.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.