MP Materials’ (MP) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of MP Materials (NYSE:MP) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $82.00 price objective on the stock.

MP has been the topic of several other research reports. Bank of America lifted their price objective on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Friday, August 1st. Daiwa Capital Markets began coverage on shares of MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price objective for the company. Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of MP Materials in a research note on Wednesday. They set a “buy” rating and a $77.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average price target of $78.82.

MP Materials Price Performance

Shares of MP Materials stock opened at $55.28 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market cap of $9.80 billion, a PE ratio of -77.86 and a beta of 2.26. The firm has a fifty day moving average price of $68.63 and a two-hundred day moving average price of $54.14. MP Materials has a fifty-two week low of $15.56 and a fifty-two week high of $100.25.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The business had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. Analysts expect that MP Materials will post -0.19 EPS for the current year.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $57.72, for a total value of $1,154,400.00. Following the completion of the sale, the chief financial officer owned 194,812 shares in the company, valued at approximately $11,244,548.64. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 248,411 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $63.86, for a total transaction of $15,863,526.46. Following the completion of the transaction, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at approximately $853,786,806.90. This represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 418,411 shares of company stock worth $27,820,926. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MP. Wolff Wiese Magana LLC raised its position in shares of MP Materials by 28.1% during the third quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock worth $54,000 after acquiring an additional 177 shares during the last quarter. Miracle Mile Advisors LLC increased its position in MP Materials by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after purchasing an additional 188 shares during the period. Wedmont Private Capital increased its position in MP Materials by 1.7% in the third quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares during the period. IMG Wealth Management Inc. raised its holdings in MP Materials by 4.7% during the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after purchasing an additional 200 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in MP Materials by 4.0% during the 3rd quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares during the period. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

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.