MP Materials (NYSE:MP) Upgraded at TD Securities

TD Securities upgraded shares of MP Materials (NYSE:MP) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on MP. The Goldman Sachs Group started coverage on shares of MP Materials in a research note on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price objective for the company. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $76.00 to $75.00 in a report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Bank of America upped their target price on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $78.91.

MP Materials Price Performance

Shares of MP opened at $60.69 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. The firm has a market cap of $10.76 billion, a PE ratio of -85.48 and a beta of 1.60. The firm’s 50 day moving average price is $59.96 and its 200 day moving average price is $64.96. MP Materials has a twelve month low of $18.64 and a twelve month high of $100.25.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 385,000 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the transaction, the chief executive officer directly owned 13,105,965 shares in the company, valued at $824,889,437.10. This represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the sale, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 991,557 shares of company stock valued at $62,785,202. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On MP Materials

Several large investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position in shares of MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of MP Materials in the fourth quarter valued at $26,000. REAP Financial Group LLC bought a new position in MP Materials in the fourth quarter worth $26,000. Financial Consulate Inc. increased its holdings in 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 buying an additional 472 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of MP Materials in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.