MP Materials Corp. (NYSE:MP) Receives $78.21 Average Price Target from Brokerages

by · The Cerbat Gem

MP Materials Corp. (NYSE:MP – Get Free Report) has been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $78.2083.

MP has been the topic of a number of recent research reports. Citigroup reissued a “positive” rating on shares of MP Materials in a research report on Wednesday, July 15th. Needham & Company LLC dropped their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley upped their price objective on shares of MP Materials from $70.00 to $71.50 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th.

Get Our Latest Stock Report on MP

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal bought 17,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. This trade represents a 1.29% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 234,651 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $65.87, for a total value of $15,456,461.37. Following the transaction, the chief executive officer owned 11,855,965 shares of the company’s stock, valued at approximately $780,952,414.55. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 585,167 shares of company stock valued at $39,028,272 in the last three months. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of MP Materials

Several institutional investors have recently added to or reduced their stakes in MP. Monetta Financial Services Inc. acquired a new stake in shares of MP Materials during the second quarter worth $1,120,000. Bank of New York Mellon Corp acquired a new position in shares of MP Materials in the 2nd quarter valued at about $65,230,000. S&CO Inc. acquired a new position in shares of MP Materials in the 2nd quarter valued at about $336,000. Benjamin Edwards Inc. grew its position in shares of MP Materials by 3.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 79,798 shares of the company’s stock valued at $4,469,000 after buying an additional 2,922 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in MP Materials by 1,679.2% during the second quarter. EverSource Wealth Advisors LLC now owns 41,561 shares of the company’s stock worth $2,328,000 after acquiring an additional 39,225 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Price Performance

MP stock opened at $53.87 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. MP Materials has a 1 year low of $37.81 and a 1 year high of $100.25. The firm has a market cap of $9.59 billion, a P/E ratio of -158.44 and a beta of 1.88. The stock has a 50-day simple moving average of $51.83 and a 200-day simple moving average of $57.19.

MP Materials (NYSE:MP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period in the previous year, the company posted ($0.13) EPS. MP Materials’s revenue for the quarter was up 89.0% on a year-over-year basis. On average, equities analysts predict that MP Materials will post 0.04 earnings per share for the current fiscal year.

About MP Materials

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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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