MP Materials Corp. (NYSE:MP - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $21.79, but opened at $22.87. MP Materials shares last traded at $20.99, with a volume of 4,545,777 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Finally, DA Davidson lifted their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus price target of $23.61.
View Our Latest Report on MP
MP Materials Price Performance
The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.02 billion, a PE ratio of -41.69 and a beta of 2.14. The company has a fifty day moving average of $23.04 and a 200-day moving average of $22.08.
MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) 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 analysts' expectations of $64.74 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. MP Materials's quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.
Insider Activity at MP Materials
In other MP Materials news, CEO James H. Litinsky sold 489,918 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the sale, the chief executive officer now owns 15,153,158 shares in the company, valued at $405,650,039.66. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Corbett sold 15,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 943,792 shares of company stock worth $25,286,567. 9.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after acquiring an additional 942,105 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Invesco Ltd. boosted its position in shares of MP Materials by 25.3% during the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock worth $64,811,000 after acquiring an additional 536,522 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock worth $37,945,000 after acquiring an additional 73,297 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock worth $34,433,000 after acquiring an additional 176,121 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.
About MP Materials
(
Get Free Report)
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.
Featured Stories
Before you consider MP Materials, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MP Materials wasn't on the list.
While MP Materials currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
