MP Materials (NYSE:MP) Trading Up 4.7% – Should You Buy?

Shares of MP Materials Corp. (NYSE:MP) traded up 4.7% on Tuesday . The company traded as high as $61.66 and last traded at $60.84. 5,885,838 shares changed hands during trading, a decline of 46% from the average session volume of 10,804,922 shares. The stock had previously closed at $58.10.

Analysts Set New Price Targets

MP has been the subject of several research reports. The Goldman Sachs Group assumed coverage on MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. Morgan Stanley set a $69.00 price objective on MP Materials in a research note on Wednesday, October 8th. Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. Daiwa America upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. Finally, BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $76.00 to $75.00 in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

MP Materials Price Performance

The company has a fifty day moving average of $67.44 and a 200 day moving average of $55.96. The firm has a market capitalization of $10.78 billion, a P/E ratio of -85.69 and a beta of 1.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The firm had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same quarter last year, the business earned ($0.12) EPS. The company’s revenue was down 14.9% compared to the same quarter last year. Sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $57.72, for a total transaction of $1,154,400.00. Following the sale, the chief financial officer owned 194,812 shares of the company’s stock, valued at approximately $11,244,548.64. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 248,411 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $63.86, for a total value of $15,863,526.46. Following the completion of the transaction, the chief executive officer directly owned 13,369,665 shares in the company, valued at $853,786,806.90. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.60% of the stock is owned by insiders.

Institutional Trading of MP Materials

Large investors have recently modified their holdings of the stock. Highline Wealth Partners LLC acquired a new position in shares of MP Materials during the 2nd quarter valued at $25,000. Sound Income Strategies LLC raised its holdings in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after purchasing an additional 506 shares during the period. MAI Capital Management boosted its position in shares of MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of MP Materials by 181.3% in the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after buying an additional 651 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

About MP Materials

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.