MP Materials (NYSE:MP) Price Target Raised to $112.00

Key Points

• Bank of America has raised its price target for MP Materials from $78.00 to $112.00, indicating a potential upside of 13.38% from the stock's previous close.
• MP Materials reported an earnings per share (EPS) of ($0.13) in its latest earnings announcement, surpassing the consensus estimate, with revenue increasing by 83.6% year-over-year.
• MP Materials has received a "Moderate Buy" consensus rating from analysts, with one Strong Buy, eight Buy, four Hold, and one Sell ratings among various ratings issued by research firms.

MP Materials (NYSE:MP - Get Free Report) had its target price raised by analysts at Bank of America from $78.00 to $112.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 13.38% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Robert W. Baird boosted their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Canaccord Genuity Group raised their price target on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Benchmark reaffirmed a "buy" rating on shares of MP Materials in a research report on Friday, August 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.80.

MP Materials Trading Up 3.9%

MP opened at $98.78 on Wednesday. The business has a fifty day moving average price of $71.11 and a 200 day moving average price of $46.09. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. MP Materials has a 12 month low of $15.56 and a 12 month high of $100.25. The stock has a market capitalization of $17.49 billion, a price-to-earnings ratio of -156.80 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. During the same quarter last year, the business posted ($0.17) EPS. The business's quarterly revenue was up 83.6% compared to the same quarter last year. Sell-side analysts expect that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MP. Sound Income Strategies LLC raised its holdings in shares of MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company's stock valued at $26,000 after buying an additional 294 shares during the last quarter. Grove Bank & Trust acquired a new position in MP Materials in the 3rd quarter valued at about $34,000. Hilltop National Bank raised its stake in MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company's stock valued at $40,000 after acquiring an additional 500 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in MP Materials during the 2nd quarter worth approximately $25,000. Finally, AdvisorNet Financial Inc lifted its position in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after acquiring an additional 506 shares during the period. 52.55% of the stock is currently 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.

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