MP Materials (NYSE:MP) Research Coverage Started at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of MP Materials (NYSE:MP) in a research note published on Thursday, MarketBeat.com reports. The brokerage issued a market perform rating and a $76.00 price objective on the stock.

MP has been the subject of several other research reports. Cfra Research raised shares of MP Materials to a “moderate buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday. Canaccord Genuity Group lifted their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Robert W. Baird lifted their price target on shares of MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

MP Materials Stock Up 8.7%

Shares of NYSE MP opened at $78.59 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The company has a market cap of $13.92 billion, a P/E ratio of -124.75 and a beta of 2.32. MP Materials has a 1 year low of $15.56 and a 1 year high of $84.92. The firm has a 50-day simple moving average of $69.91 and a two-hundred day simple moving average of $45.11.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm’s quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. Research analysts anticipate that MP Materials will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of MP. Highline Wealth Partners LLC purchased a new position in MP Materials in the second quarter worth $25,000. Sound Income Strategies LLC grew its holdings in MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares during the last quarter. NBC Securities Inc. grew its holdings in MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,199 shares during the last quarter. Finally, MAI Capital Management grew its holdings in MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the last quarter. 52.55% of the stock is 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.