MP Materials (NYSE:MP) Price Target Raised to $38.00

MP Materials (NYSE:MP - Get Free Report) had its target price raised by Robert W. Baird from $30.00 to $38.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 0.66% from the company's current price.

A number of other research firms have also recently issued reports on MP. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets upped their price target on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and a consensus target price of $27.06.

MP Materials Stock Performance

Shares of NYSE MP traded up $0.53 during trading hours on Tuesday, reaching $37.75. The stock had a trading volume of 13,611,678 shares, compared to its average volume of 4,555,349. MP Materials has a twelve month low of $10.02 and a twelve month high of $39.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The business's fifty day moving average is $24.54 and its two-hundred day moving average is $22.90. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -58.08 and a beta of 2.14.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, research analysts expect that MP Materials will post -0.19 EPS for the current year.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 18,519 shares of MP Materials stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total value of $500,013.00. Following the transaction, the chief executive officer now owns 13,842,256 shares of the company's stock, valued at approximately $373,740,912. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On MP Materials

A number of large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. increased its stake in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,199 shares during the last quarter. MAI Capital Management grew its stake in shares of MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after buying an additional 800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in MP Materials during the first quarter worth $35,000. Banque Cantonale Vaudoise bought a new stake in MP Materials during the first quarter worth $35,000. Finally, Quadrant Capital Group LLC lifted its stake in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares during the last quarter. Institutional investors 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.