MP Materials (NYSE:MP) Sets New 1-Year High - What's Next?

MP Materials Corp. (NYSE:MP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.96 and last traded at $29.24, with a volume of 20686819 shares trading hands. The stock had previously closed at $25.64.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $23.00 to $34.00 in a report on Thursday, June 5th. 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 report on Wednesday, March 19th. JPMorgan Chase & Co. decreased 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. Finally, BMO Capital Markets upped 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.61.

MP Materials Trading Up 3.5%

The firm's 50 day moving average is $23.34 and its 200 day moving average is $22.41. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The company has a market cap of $4.94 billion, a PE ratio of -51.17 and a beta of 2.14.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. On average, equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now owns 214,812 shares of the company's stock, valued at $5,799,924. This represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James H. Litinsky sold 18,519 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total value of $500,013.00. Following the completion of the transaction, the chief executive officer now owns 13,842,256 shares of the company's stock, valued at $373,740,912. The trade was a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 883,792 shares of company stock valued at $23,755,967 in the last 90 days. Corporate insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On MP Materials

Institutional investors and hedge funds 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 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares during the period. MAI Capital Management increased its stake 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 worth $34,000 after buying an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in MP Materials during the 1st quarter valued at $35,000. Banque Cantonale Vaudoise purchased a new stake in MP Materials during the 1st quarter valued at $35,000. Finally, Quadrant Capital Group LLC grew its holdings in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after acquiring an additional 701 shares during the last quarter. 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.