Robert W. Baird Issues Positive Forecast for MP Materials (NYSE:MP) Stock Price

MP Materials (NYSE:MP) had its target price raised by Robert W. Baird from $30.00 to $38.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. DA Davidson upped their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their target price on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $34.00 in a research report on Thursday, June 5th. Finally, BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.06.

MP Materials Stock Performance

Shares of MP opened at $35.46 on Tuesday. MP Materials has a one year low of $10.02 and a one year high of $35.78. The company has a market cap of $5.80 billion, a PE ratio of -54.55 and a beta of 2.14. The stock has a 50-day moving average of $24.00 and a 200-day moving average of $22.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same period last year, the business posted ($0.04) EPS. The company’s revenue was up 24.9% on a year-over-year basis. On average, equities research analysts predict that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in shares of MP Materials in the 4th quarter worth approximately $228,000. New York State Teachers Retirement System raised its stake in shares of MP Materials by 7.3% in the fourth quarter. New York State Teachers Retirement System now owns 99,900 shares of the company’s stock valued at $1,558,000 after buying an additional 6,800 shares during the period. Principal Financial Group Inc. raised its stake in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after buying an additional 294,806 shares during the period. CIBC Asset Management Inc purchased a new position in shares of MP Materials during the 4th quarter valued at $159,000. Finally, Private Advisor Group LLC grew its stake in shares of MP Materials by 76.5% during the 4th quarter. Private Advisor Group LLC now owns 248,591 shares of the company’s stock worth $3,878,000 after acquiring an additional 107,738 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.