DA Davidson Issues Positive Forecast for MP Materials (NYSE:MP) Stock Price

Key Points

• DA Davidson has raised the target price for MP Materials from $32.00 to $82.00, indicating a potential upside of 23.87% from the previous close.
• Analysts are largely bullish on MP Materials, with six giving it a buy rating and a consensus price target of approximately $66.88.
• MP Materials reported an 83.6% year-over-year increase in revenue, reaching $57.39 million, and has been upgraded to a "moderate buy" rating by Cfra Research.

MP Materials (NYSE:MP - Get Free Report) had its price objective raised by analysts at DA Davidson from $32.00 to $82.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price would suggest a potential upside of 30.26% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, August 1st. Cowen reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Robert W. Baird boosted their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and an average target price of $66.88.

MP Materials Stock Down 1.9%

MP Materials stock traded down $1.23 during trading hours on Tuesday, hitting $62.95. The company had a trading volume of 6,883,745 shares, compared to its average volume of 10,904,127. The firm has a market capitalization of $11.15 billion, a P/E ratio of -99.92 and a beta of 2.32. 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's fifty day moving average is $60.07 and its 200-day moving average is $37.26. MP Materials has a fifty-two week low of $13.20 and a fifty-two week high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, research analysts forecast that MP Materials will post -0.19 earnings per share for the current year.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the company'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 completion of the sale, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company's stock.

Institutional Trading of MP Materials

Large investors have recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of MP Materials during the 2nd quarter worth $25,000. AdvisorNet Financial Inc boosted its holdings in shares of MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after buying an additional 506 shares during the period. NBC Securities Inc. boosted its holdings 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 worth $29,000 after buying an additional 1,199 shares during the period. MAI Capital Management boosted its holdings in shares of MP Materials by 132.7% during the 1st 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 period. Finally, Spire Wealth Management boosted its holdings in shares of MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company's stock worth $34,000 after buying an additional 651 shares during the period. 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.