MP Materials Corp. (NYSE:MP) Given Consensus Recommendation of “Buy” by Analysts

Shares of MP Materials Corp. (NYSE:MPGet Rating) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $46.57.

Several brokerages have commented on MP. Zacks Investment Research cut shares of MP Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Morgan Stanley decreased their price target on shares of MP Materials from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MP Materials from $37.00 to $45.00 in a research note on Thursday, May 5th. Finally, Benchmark upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, February 9th.

MP opened at $36.82 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 24.76 and a current ratio of 25.52. MP Materials has a fifty-two week low of $25.86 and a fifty-two week high of $60.19. The firm’s fifty day moving average is $45.29 and its 200 day moving average is $43.67. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 1.66 and a beta of 3.38.

MP Materials (NYSE:MPGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. MP Materials had a net margin of 46.66% and a return on equity of 21.91%. The company had revenue of $166.26 million for the quarter, compared to analysts’ expectations of $132.40 million. During the same quarter in the previous year, the company earned $0.11 EPS. MP Materials’s revenue for the quarter was up 177.2% on a year-over-year basis. On average, equities research analysts predict that MP Materials will post 1.28 earnings per share for the current year.

In related news, CEO James H. Litinsky sold 3,750,000 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $43.50, for a total transaction of $163,125,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Connie K. Duckworth purchased 15,200 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were purchased at an average price of $38.37 per share, for a total transaction of $583,224.00. Following the completion of the acquisition, the director now directly owns 17,684 shares in the company, valued at approximately $678,535.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 49,200 shares of company stock worth $1,911,264 and sold 4,935,876 shares worth $216,329,320. Insiders own 49.70% of the company’s stock.

A number of large investors have recently modified their holdings of MP. Principal Financial Group Inc. grew its holdings in MP Materials by 31.2% during the 3rd quarter. Principal Financial Group Inc. now owns 15,303 shares of the company’s stock valued at $493,000 after purchasing an additional 3,638 shares during the last quarter. CIBC Asset Management Inc bought a new position in MP Materials during the 3rd quarter valued at about $221,000. Teacher Retirement System of Texas grew its holdings in MP Materials by 25.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,615 shares of the company’s stock valued at $310,000 after purchasing an additional 1,971 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in MP Materials during the 3rd quarter valued at about $83,000. Finally, US Bancorp DE grew its holdings in MP Materials by 20.6% during the 3rd quarter. US Bancorp DE now owns 34,832 shares of the company’s stock valued at $1,123,000 after purchasing an additional 5,942 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

MP Materials Company Profile (Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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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Analyst Recommendations for MP Materials (NYSE:MP)

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