MP Materials (NYSE:MP) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded MP Materials from a "sell" to a "hold", while the broader analyst community remains largely positive with a consensus rating of Buy and a consensus price target of $78.91.
• Company insiders sold 338,146 shares in the last three months worth about $21.5 million — including CFO Ryan Corbett and CEO James Litinsky — reducing insider ownership to 9.5% (CFO ownership fell ~19.6%, CEO ownership fell ~2.1%).
• MP opened at $58.26 with a 1-year range of $18.64–$100.25, a market cap of $10.33 billion and a negative trailing PE of -112.04, while its 50-day and 200-day simple moving averages are $60.79 and $63.73 respectively.

MP Materials (NYSE:MP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

A number of other analysts have also recently issued reports on MP. The Goldman Sachs Group started coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a "buy" rating and a $77.00 target price for the company. William Blair reiterated an "outperform" rating on shares of MP Materials in a research note on Wednesday. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $68.50 to $71.00 in a report on Friday, December 5th. BMO Capital Markets upgraded shares of MP Materials from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $78.91.

MP Materials Stock Down 0.4%

MP opened at $58.26 on Friday. The stock's fifty day simple moving average is $60.79 and its 200 day simple moving average is $63.73. MP Materials has a 1-year low of $18.64 and a 1-year high of $100.25. The stock has a market cap of $10.33 billion, a PE ratio of -112.04 and a beta of 1.55. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the sale, the chief financial officer owned 156,666 shares of the company's stock, valued at $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 338,146 shares of company stock valued at $21,535,376. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MP Materials

Hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company's stock worth $26,000 after buying an additional 294 shares in the last quarter. Grove Bank & Trust acquired a new stake in shares of MP Materials during the 3rd quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of MP Materials during the 4th quarter valued at $26,000. REAP Financial Group LLC bought a new stake in MP Materials during the 4th quarter worth $26,000. Finally, Los Angeles Capital Management LLC bought a new stake in MP Materials during the 4th quarter worth $28,000. 52.55% of the stock is owned by institutional investors.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.