MP Materials Corp. (NYSE:MP) Given Consensus Recommendation of “Buy” by Analysts

MP Materials Corp. (NYSE:MP) has received a consensus rating of “Buy” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $78.9091.

A number of equities research analysts have weighed in on MP shares. Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $68.50 to $71.00 in a research note on Friday, December 5th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $76.00 to $75.00 in a research report on Monday, November 24th. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of MP Materials in a report on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th.

MP Materials Stock Down 3.5%

Shares of MP Materials stock opened at $60.07 on Friday. MP Materials has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $61.61 and its 200 day moving average is $63.57. The company has a market cap of $10.65 billion, a price-to-earnings ratio of -115.52 and a beta of 1.55.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer owned 12,805,965 shares in the company, valued at $821,758,774.05. This represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.50% of the stock is owned by company insiders.

Institutional Trading of MP Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its position 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 acquiring an additional 294 shares during the period. Grove Bank & Trust bought a new stake in shares of MP Materials during the 3rd quarter valued at $34,000. EMC Capital Management bought a new stake in shares of MP Materials during the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of MP Materials in the 4th quarter worth $26,000. Finally, REAP Financial Group LLC purchased a new stake in shares of MP Materials in the 4th quarter worth $26,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.