MP Materials Corp. (NYSE:MP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MP Materials Corp. (NYSE:MP) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has given a strong 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 $78.9091.

A number of equities analysts recently issued reports on MP shares. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. Bank of America upped their target price on shares of MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Thursday. Finally, DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Thursday, November 20th.

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer directly owned 156,666 shares in the company, valued at $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 991,557 shares of company stock valued at $62,785,202. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in shares of MP Materials in the second quarter valued at about $25,000. Sound Income Strategies LLC increased its position in MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in MP Materials during the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its position in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after acquiring an additional 506 shares during the period. Finally, Financial Consulate Inc. grew its stake in shares of MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Performance

Shares of MP stock opened at $63.35 on Thursday. The company has a market cap of $11.23 billion, a P/E ratio of -89.23 and a beta of 1.62. The firm has a fifty day moving average price of $59.33 and a 200 day moving average price of $64.68. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. MP Materials has a 12 month low of $18.64 and a 12 month high of $100.25.

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

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.