MP Materials Corp. (NYSE:MP) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• MP Materials Corp. has received a consensus recommendation of "Moderate Buy" from analysts, with an average 12-month price target of $74.00.
• Recent insider trading showed COO Michael Stuart Rosenthal selling 150,000 shares for approximately $10.8 million, representing a 10.46% decrease in his ownership.
• Institutional investors own approximately 52.55% of MP Materials, with Vanguard Group increasing its holdings by 7.4% during the first quarter.

MP Materials Corp. (NYSE:MP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $74.00.

Several brokerages recently weighed in on MP. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, August 1st. BMO Capital Markets began coverage on MP Materials in a report on Thursday. They set a "market perform" rating and a $76.00 price target for the company. Cowen reaffirmed a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Cfra Research raised MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group increased their price target on MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th.

Insider Buying and Selling at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction on Friday, August 29th. The stock was 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 $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MP Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in MP Materials by 7.4% in the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after acquiring an additional 942,105 shares during the period. Caxton Associates LLP acquired a new stake in MP Materials in the second quarter valued at $132,238,000. Invesco Ltd. lifted its holdings in MP Materials by 14.3% in the second quarter. Invesco Ltd. now owns 3,033,612 shares of the company's stock valued at $100,928,000 after acquiring an additional 378,510 shares during the period. BNP Paribas Financial Markets lifted its holdings in MP Materials by 76.3% in the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company's stock valued at $97,200,000 after acquiring an additional 1,264,243 shares during the period. Finally, National Bank of Canada FI lifted its holdings in MP Materials by 19,314.3% in the second quarter. National Bank of Canada FI now owns 2,013,462 shares of the company's stock valued at $66,987,000 after acquiring an additional 2,003,091 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Price Performance

MP stock opened at $95.03 on Tuesday. The company has a market capitalization of $16.83 billion, a P/E ratio of -150.84 and a beta of 2.32. MP Materials has a twelve month low of $15.56 and a twelve month high of $98.97. The business has a 50 day simple moving average of $70.50 and a 200-day simple moving average of $45.73. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83.

MP Materials (NYSE:MP - Get Free Report) last posted 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 business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company's revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities analysts anticipate that MP Materials will post -0.19 EPS for the current year.

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.

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