MP Materials Corp. (NYSE:MP) has earned an average recommendation of "Buy" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.00.
Several equities research analysts have weighed in on the stock. Cowen assumed coverage on shares of MP Materials in a research note on Wednesday, March 10th. They issued an "outperform" rating and a $50.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $37.00 price objective on shares of MP Materials in a report on Monday, March 15th. Morgan Stanley cut their price target on shares of MP Materials from $41.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, May 19th. Zacks Investment Research cut shares of MP Materials from a "buy" rating to a "hold" rating in a research note on Wednesday, May 5th. Finally, Bank of America assumed coverage on shares of MP Materials in a research note on Thursday, April 1st. They issued a "neutral" rating and a $38.00 target price on the stock.
In other news, Director Financial Lp Qvt sold 1,598,801 shares of MP Materials stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $33.77, for a total transaction of $53,991,509.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 4,603,123 shares of MP Materials stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $33.78, for a total transaction of $155,493,494.94. The disclosure for this sale can be found here. In the last three months, insiders sold 6,202,100 shares of company stock worth $209,490,948. 49.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Trustcore Financial Services LLC bought a new position in MP Materials in the fourth quarter worth about $25,000. US Bancorp DE purchased a new position in shares of MP Materials during the 4th quarter valued at approximately $25,000. Northern Oak Wealth Management Inc. purchased a new position in shares of MP Materials during the 4th quarter valued at approximately $33,000. American National Bank acquired a new position in MP Materials in the 1st quarter valued at $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in MP Materials in the 4th quarter valued at $40,000. 62.95% of the stock is owned by hedge funds and other institutional investors.
MP Materials stock opened at $35.94 on Wednesday. The company has a market cap of $6.14 billion and a PE ratio of 163.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 16.51 and a current ratio of 16.99. MP Materials has a twelve month low of $9.78 and a twelve month high of $51.77. The firm has a 50-day moving average of $30.43.
MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.08 by $0.01. The firm had revenue of $60.00 million for the quarter, compared to analyst estimates of $44.51 million. The company's revenue for the quarter was up 189.9% on a year-over-year basis. As a group, equities analysts forecast that MP Materials will post 0.51 EPS for the current year.
MP Materials Company Profile
MP Materials Corp. engages in the ownership and operation of integrated rare earth mining and processing facilities. It owns and operates the Mountain Pass facility located in the Western Hemisphere. The company 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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