MP Materials Corp. (NYSE:MP) Receives $79.54 Average Price Target from Analysts

Shares of MP Materials Corp. (NYSE:MPGet Free Report) have been given an average recommendation of “Buy” by the twenty analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $79.25.

Several research firms have recently commented on MP. Wedbush lifted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft dropped their target price on MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Finally, Citigroup reiterated a “positive” rating on shares of MP Materials in a research report on Wednesday.

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Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 259,179 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the completion of the sale, the chief executive officer owned 12,505,965 shares of the company’s stock, valued at $800,756,938.95. This represents a 2.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer directly owned 109,017 shares in the company, valued at approximately $8,176,275. This trade represents a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,164,346 shares of company stock valued at $76,757,068 over the last three months. 8.20% of the stock is owned by company insiders.

Institutional Trading of MP Materials

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in MP Materials by 26.5% during the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock valued at $5,716,000 after purchasing an additional 49,052 shares during the period. AQR Capital Management LLC purchased a new stake in MP Materials in the 1st quarter worth approximately $215,000. Integrated Wealth Concepts LLC bought a new stake in shares of MP Materials in the 1st quarter worth approximately $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after buying an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of MP Materials by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after acquiring an additional 51,348 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of MP Materials stock opened at $45.24 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. MP Materials has a 52-week low of $43.82 and a 52-week high of $100.25. The company has a fifty day moving average of $58.24 and a 200-day moving average of $59.14. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of -107.73 and a beta of 1.86.

MP Materials (NYSE:MPGet Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company had revenue of $90.65 million for the quarter, compared to analysts’ expectations of $74.82 million. During the same quarter last year, the company earned ($0.12) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. Equities research analysts expect that MP Materials will post 0.04 EPS for the current year.

Trending Headlines about MP Materials

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MP Materials Company Profile

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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.

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