MP Materials (NYSE:MP) Now Covered by BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage of MP Materials (NYSE:MP), assigning a "market perform" rating and a price target of $76.00, indicating a potential upside of 5.04% from the stock's previous close.
• MP Materials reported a revenue of $57.39 million for its recent quarter, significantly surpassing analyst estimates, and achieved a year-over-year revenue increase of 83.6%.
• Insider activity revealed COO Michael Stuart Rosenthal sold 150,000 shares valued at over $10.8 million, decreasing his ownership by 10.46%.

Analysts at BMO Capital Markets began coverage on shares of MP Materials (NYSE:MP - Get Free Report) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a "market perform" rating and a $76.00 price target on the stock. BMO Capital Markets' price objective points to a potential upside of 5.04% from the stock's previous close.

Several other equities analysts have also issued reports on MP. Daiwa America raised MP Materials to a "strong-buy" rating in a research note on Monday, September 22nd. Benchmark reaffirmed a "buy" rating on shares of MP Materials in a research note on Friday, August 29th. JPMorgan Chase & Co. upped their price target on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Cowen reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Finally, Daiwa Capital Markets initiated coverage on MP Materials in a research note on Monday, September 22nd. They issued an "outperform" rating and a $80.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.00.

MP Materials Trading Up 2.5%

Shares of MP opened at $72.35 on Thursday. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. MP Materials has a 12-month low of $15.56 and a 12-month high of $82.50. The firm has a market capitalization of $12.81 billion, a PE ratio of -114.84 and a beta of 2.32. The stock's fifty day simple moving average is $69.62 and its 200-day simple moving average is $44.62.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The firm's revenue for the quarter was up 83.6% compared to the same quarter last year. As a group, research analysts predict that MP Materials will post -0.19 earnings per share for the current year.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On MP Materials

Several large investors have recently modified their holdings of MP. NBC Securities Inc. increased 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 worth $29,000 after acquiring an additional 1,199 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock worth $140,000 after buying an additional 1,975 shares in the last quarter. CX Institutional bought a new position in shares of MP Materials during the first quarter worth about $79,000. Pullen Investment Management LLC grew its holdings in shares of MP Materials by 3.7% during the first quarter. Pullen Investment Management LLC now owns 32,185 shares of the company's stock worth $786,000 after buying an additional 1,159 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of MP Materials by 22.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,597 shares of the company's stock worth $307,000 after buying an additional 2,316 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

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.