MP Materials (NYSE:MP) Price Target Cut to $45.50 by Analysts at Morgan Stanley

MP Materials (NYSE:MPGet Rating) had its price target decreased by Morgan Stanley from $46.00 to $45.50 in a research note released on Friday morning, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research analysts have also commented on MP. Northland Securities reissued an outperform rating and set a $60.00 price objective on shares of MP Materials in a report on Monday, June 6th. Canaccord Genuity Group started coverage on MP Materials in a report on Wednesday, July 13th. They set a buy rating on the stock. BMO Capital Markets started coverage on MP Materials in a report on Tuesday, May 31st. They set an outperform rating and a $50.00 price objective on the stock. Robert W. Baird increased their price objective on MP Materials from $45.00 to $55.00 in a report on Friday, August 5th. Finally, Canaccord Genuity Group assumed coverage on MP Materials in a report on Wednesday, July 13th. They issued a buy rating and a $44.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $50.19.

MP Materials Stock Down 2.2 %

MP opened at $31.38 on Friday. MP Materials has a fifty-two week low of $27.48 and a fifty-two week high of $60.19. The business has a 50-day moving average of $33.47 and a 200-day moving average of $38.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 20.39 and a quick ratio of 19.75. The company has a market capitalization of $5.57 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.56 and a beta of 2.83.

MP Materials (NYSE:MPGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $143.50 million during the quarter, compared to the consensus estimate of $128.75 million. MP Materials had a return on equity of 25.19% and a net margin of 49.26%. The business’s quarterly revenue was up 96.3% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. Equities research analysts forecast that MP Materials will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other news, Director Daniel Allen Gold sold 150,489 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.20, for a total transaction of $4,996,234.80. Following the sale, the director now directly owns 1,132,765 shares in the company, valued at $37,607,798. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other MP Materials news, Director Daniel Allen Gold sold 150,489 shares of MP Materials stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.20, for a total transaction of $4,996,234.80. Following the sale, the director now owns 1,132,765 shares in the company, valued at $37,607,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Financial Lp Qvt sold 133,385 shares of MP Materials stock in a transaction on Monday, August 29th. The stock was sold at an average price of $35.93, for a total transaction of $4,792,523.05. Following the sale, the director now owns 1,224,612 shares in the company, valued at approximately $44,000,309.16. The disclosure for this sale can be found here. Insiders have sold 5,084,016 shares of company stock valued at $190,276,278 in the last 90 days. 41.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently bought and sold shares of MP. Private Capital Group LLC acquired a new stake in shares of MP Materials in the 1st quarter valued at $27,000. ACG Wealth acquired a new stake in shares of MP Materials in the 2nd quarter valued at $38,000. Elequin Capital LP acquired a new stake in shares of MP Materials in the 1st quarter valued at $45,000. Stonebridge Capital Advisors LLC boosted its stake in shares of MP Materials by 645.2% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,155 shares of the company’s stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of MP Materials in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 71.49% of the company’s stock.

MP Materials Company Profile

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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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