TD Securities Upgrades MP Materials (NYSE:MP) to “Strong-Buy”

MP Materials (NYSE:MP) was upgraded by equities researchers at TD Securities to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on MP. DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Thursday, November 20th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $68.50 to $71.00 in a research note on Friday, December 5th. JPMorgan Chase & Co. upgraded shares of MP Materials from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $75.00 to $74.00 in a report on Friday, November 14th. The Goldman Sachs Group assumed coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of “Buy” and an average price target of $78.91.

MP Materials Stock Down 0.6%

NYSE:MP opened at $62.40 on Monday. MP Materials has a 52 week low of $18.64 and a 52 week high of $100.25. The stock’s fifty day moving average is $59.92 and its two-hundred day moving average is $64.99. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of -87.89 and a beta of 1.60. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. The trade was a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James H. Litinsky sold 385,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the sale, the chief executive officer owned 13,105,965 shares in the company, valued at $824,889,437.10. The trade was a 2.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 991,557 shares of company stock valued at $62,785,202 in the last quarter. 12.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MP. Lido Advisors LLC purchased a new position in shares of MP Materials in the 4th quarter valued at $318,000. REAP Financial Group LLC acquired a new position in MP Materials in the fourth quarter valued at $26,000. CIBC Asset Management Inc grew its holdings in shares of MP Materials by 16.8% during the fourth quarter. CIBC Asset Management Inc now owns 6,690 shares of the company’s stock worth $338,000 after purchasing an additional 964 shares during the last quarter. Calton & Associates Inc. purchased a new position in shares of MP Materials during the fourth quarter worth about $259,000. Finally, AXQ Capital LP acquired a new stake in shares of MP Materials during the fourth quarter worth about $364,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.