Robert W. Baird Increases MP Materials (NYSE:MP) Price Target to $38.00

MP Materials (NYSE:MP - Get Free Report) had its price target lifted by equities research analysts at Robert W. Baird from $30.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 7.53% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. DA Davidson increased their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets boosted 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of "Moderate Buy" and a consensus price target of $27.06.

MP Materials Stock Up 2.0%

Shares of NYSE MP traded up $0.69 during mid-day trading on Tuesday, reaching $35.34. 6,568,842 shares of the company traded hands, compared to its average volume of 4,422,661. The company's fifty day moving average is $23.76 and its two-hundred day moving average is $22.60. MP Materials has a fifty-two week low of $10.02 and a fifty-two week high of $35.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a market cap of $5.78 billion, a PE ratio of -59.73 and a beta of 2.14.

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). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. During the same period in the prior year, the company posted ($0.04) earnings per share. MP Materials's quarterly revenue was up 24.9% on a year-over-year basis. On average, analysts expect that MP Materials will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 18,519 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total transaction of $500,013.00. Following the completion of the sale, the chief executive officer now owns 13,842,256 shares of the company's stock, valued at approximately $373,740,912. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 378,874 shares of company stock valued at $10,235,862. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MP Materials

Several institutional investors have recently bought and sold shares of MP. Empowered Funds LLC bought a new position in MP Materials in the 4th quarter valued at $228,000. New York State Teachers Retirement System increased its position in MP Materials by 7.3% in the fourth quarter. New York State Teachers Retirement System now owns 99,900 shares of the company's stock worth $1,558,000 after purchasing an additional 6,800 shares during the period. Principal Financial Group Inc. raised its holdings in MP Materials by 48.7% during the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock worth $14,035,000 after purchasing an additional 294,806 shares during the last quarter. CIBC Asset Management Inc bought a new stake in MP Materials during the 4th quarter worth about $159,000. Finally, Private Advisor Group LLC lifted its position in MP Materials by 76.5% during the 4th quarter. Private Advisor Group LLC now owns 248,591 shares of the company's stock valued at $3,878,000 after purchasing an additional 107,738 shares during the period. 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.

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