Brokerages Set MP Materials Corp. (NYSE:MP) Price Target at $25.61

Shares of MP Materials Corp. (NYSE:MP - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $25.61.

A number of research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. DA Davidson upped their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Finally, Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th.

MP Materials Stock Performance

MP Materials stock traded up $1.19 during mid-day trading on Wednesday, hitting $30.39. The company had a trading volume of 25,259,135 shares, compared to its average volume of 4,328,098. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials has a 12-month low of $10.02 and a 12-month high of $30.78. The company's fifty day moving average is $23.51 and its 200-day moving average is $22.48. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -51.51 and a beta of 2.14.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The company's revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts predict that MP Materials will post -0.19 EPS for the current year.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares of the company's stock, valued at approximately $5,799,924. This represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares of the company's stock, valued at $369,454,498.08. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 883,792 shares of company stock valued at $23,755,967 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MP Materials

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares during the period. MAI Capital Management grew its holdings 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 valued at $34,000 after purchasing an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials in the first quarter valued at about $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials in the first quarter valued at about $35,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.

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.