MP Materials (NYSE:MP) Shares Gap Up - Time to Buy?

Key Points

• MP Materials' stock price gapped up from $63.51 to $66.01 before market opening, with recent trading at $66.28.
• Analysts are optimistic, with six rating the stock as a "Buy," while the average price target has increased to $66.88.
• COO Michael Stuart Rosenthal sold 150,000 shares at a price of $72.02, representing a decrease in his ownership position by 10.46%.

MP Materials Corp. (NYSE:MP - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $63.51, but opened at $66.01. MP Materials shares last traded at $66.28, with a volume of 1,592,671 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Cfra Research raised shares of MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Cowen reaffirmed a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Finally, Canaccord Genuity Group upped their price target on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and an average price target of $66.88.

MP Materials Stock Up 3.3%

The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The company has a market cap of $11.62 billion, a P/E ratio of -104.10 and a beta of 2.32. The business's 50 day moving average price is $63.17 and its 200-day moving average price is $38.83.

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 for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. The business had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. MP Materials's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. On average, analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MP Materials 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 transaction of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.60% of the company's stock.

Institutional Trading of MP Materials

A number of institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of MP Materials during the second quarter worth $25,000. AdvisorNet Financial Inc boosted its position in shares of MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after purchasing an additional 506 shares in the last quarter. NBC Securities Inc. boosted its position in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares in the last quarter. MAI Capital Management boosted its position in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after purchasing an additional 800 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company's stock worth $34,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds 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.

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