MP Materials (NYSE:MP) Reaches New 12-Month High on Analyst Upgrade

Shares of MP Materials Corp. (NYSE:MP) hit a new 52-week high on Thursday after DA Davidson raised their price target on the stock from $25.00 to $32.00. DA Davidson currently has a buy rating on the stock. MP Materials traded as high as $27.29 and last traded at $26.80, with a volume of 2691828 shares changing hands. The stock had previously closed at $26.83.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average target price of $22.83.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,112,316 shares of company stock worth $28,665,974. Insiders own 12.60% of the company’s stock.

Institutional Trading of MP Materials

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of MP Materials during the fourth quarter worth about $40,000. Geneos Wealth Management Inc. grew its position in shares of MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after acquiring an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after acquiring an additional 2,200 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after acquiring an additional 1,545 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 0.1 %

The firm’s 50-day moving average price is $23.11 and its 200 day moving average price is $19.56. The firm has a market cap of $4.38 billion, a P/E ratio of -45.42 and a beta of 2.32. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. As a group, research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials Company Profile

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.