MP Materials Corp. (NYSE:MP - Get Free Report)'s share price was down 11% during trading on Friday . The stock traded as low as $68.57 and last traded at $68.67. Approximately 18,862,598 shares were traded during mid-day trading, an increase of 96% from the average daily volume of 9,640,618 shares. The stock had previously closed at $77.13.
Analysts Set New Price Targets
Several equities analysts have commented on MP shares. Daiwa America raised MP Materials to a "strong-buy" rating in a report on Monday. Canaccord Genuity Group increased their target price on MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Daiwa Capital Markets assumed coverage on MP Materials in a report on Monday. They issued an "outperform" rating and a $80.00 target price for the company. Cowen reissued a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Finally, DA Davidson increased their target price on MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.33.
View Our Latest Research Report on MP Materials
MP Materials Price Performance
The stock has a fifty day moving average of $67.79 and a two-hundred day moving average of $41.54. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of -109.00 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83.
MP Materials (NYSE:MP - Get Free Report) last released 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. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. During the same period last year, the firm posted ($0.17) EPS. The business's revenue was up 83.6% on a year-over-year basis. As a group, equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.
Insider Buying and Selling
In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction on 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 transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.50% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MP. Deutsche Bank AG boosted its position in shares of MP Materials by 100.9% in the 4th quarter. Deutsche Bank AG now owns 10,682 shares of the company's stock worth $167,000 after purchasing an additional 5,365 shares during the last quarter. Aegis Wealth Management LLC bought a new position in shares of MP Materials in the 4th quarter worth $156,000. GAMMA Investing LLC boosted its position in shares of MP Materials by 3,618.1% in the 1st quarter. GAMMA Investing LLC now owns 140,358 shares of the company's stock worth $3,426,000 after purchasing an additional 136,583 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of MP Materials by 40.4% in the 1st quarter. Parallel Advisors LLC now owns 5,734 shares of the company's stock worth $140,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Mirador Capital Partners LP boosted its position in shares of MP Materials by 4.7% in the 1st quarter. Mirador Capital Partners LP now owns 24,263 shares of the company's stock worth $592,000 after purchasing an additional 1,091 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.
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.
See Also
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