Brokerages Set MP Materials Corp. (NYSE:MP) PT at $27.44

MP Materials Corp. (NYSE:MP - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.44.

MP has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price 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. DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Robert W. Baird lifted their price target on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. BMO Capital Markets boosted their price target on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Finally, Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $23.00 to $34.00 in a research note on Thursday, June 5th.

MP Materials Price Performance

NYSE:MP traded down $0.63 during trading hours on Friday, reaching $31.75. 3,886,581 shares of the company were exchanged, compared to its average volume of 4,719,234. The business has a 50 day moving average of $26.52 and a 200 day moving average of $24.01. MP Materials has a 1-year low of $10.02 and a 1-year high of $39.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The company has a market capitalization of $5.19 billion, a P/E ratio of -48.84 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The company had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. Research analysts forecast that MP Materials will post -0.19 EPS for the current year.

Insider Activity

In related news, CEO James H. Litinsky sold 199,180 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 13,643,076 shares of the company's stock, valued at $369,454,498.08. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. increased its stake in 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 in the last quarter. MAI Capital Management grew its stake in shares of MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after buying an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in MP Materials in the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise bought a new stake in MP Materials in the 1st quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC raised its stake in MP Materials by 51.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company's stock worth $50,000 after buying an additional 510 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

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.