MP Materials Corp. (NYSE:MP) Receives $23.61 Average Target Price from Analysts

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.61.

A number of research firms have recently issued reports on MP. BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. DA Davidson lifted their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th.

MP Materials Stock Down 6.2 %

NYSE MP traded down $1.62 during trading hours on Tuesday, hitting $24.39. The company had a trading volume of 6,205,866 shares, compared to its average volume of 3,582,536. The firm's 50 day moving average is $24.67 and its 200 day moving average is $21.45. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $29.72. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -41.34 and a beta of 2.24.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Sell-side analysts anticipate that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the sale, the chief executive officer now directly owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,330,015 shares of company stock worth $34,559,781 in the last ninety days. 12.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of MP. Price T Rowe Associates Inc. MD boosted its stake in MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after acquiring an additional 2,005,505 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock worth $37,945,000 after purchasing an additional 73,297 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after purchasing an additional 176,121 shares during the period. Invesco Ltd. grew its stake in MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after buying an additional 7,453 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in MP Materials by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock worth $16,843,000 after buying an additional 144,661 shares during the period. Institutional investors 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.