MP Materials (NYSE:MP) Receives Buy Rating from DA Davidson

by · The Markets Daily

MP Materials (NYSE:MP – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $82.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 33.86% from the company’s previous close.

MP has been the topic of several other research reports. TD Securities raised MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group assumed coverage on shares of MP Materials in a report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $68.50 to $71.00 in a report on Friday, December 5th. Finally, BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $76.00 to $75.00 in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.91.

View Our Latest Analysis on MP

MP Materials Stock Down 0.5%

MP traded down $0.32 during trading on Wednesday, hitting $61.26. The stock had a trading volume of 2,380,923 shares, compared to its average volume of 8,024,823. The stock has a 50 day simple moving average of $61.18 and a two-hundred day simple moving average of $63.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. MP Materials has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a market capitalization of $10.86 billion, a PE ratio of -117.69 and a beta of 1.55.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MP. Sound Income Strategies LLC raised its holdings in shares of MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares during the period. Grove Bank & Trust acquired a new position in MP Materials during the third quarter worth approximately $34,000. EMC Capital Management acquired a new position in MP Materials during the fourth quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in MP Materials in the fourth quarter valued at approximately $26,000. Finally, REAP Financial Group LLC acquired a new stake in shares of MP Materials in the fourth quarter valued at approximately $26,000. Institutional investors own 52.55% of the company’s stock.

About MP Materials

(Get Free Report)

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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