MP Materials Corp. (NYSE:MP) Receives $23.43 Consensus Price Target from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.50.

A number of equities research analysts recently commented on MP shares. Jefferies Financial Group decreased their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Morgan Stanley reduced their target price on MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Bank of America lowered their price target on MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Canaccord Genuity Group decreased their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered shares of MP Materials from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.00 to $16.00 in a research note on Tuesday, April 23rd.

MP Materials Price Performance

NYSE MP opened at $12.73 on Wednesday. The company has a market cap of $2.10 billion, a PE ratio of -84.86 and a beta of 2.28. The firm’s 50 day moving average price is $15.56 and its 200-day moving average price is $16.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. MP Materials has a 52-week low of $12.09 and a 52-week high of $26.53.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. Sell-side analysts forecast that MP Materials will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at $5,502,605.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the sale, the director now directly owns 86,000 shares of the company’s stock, valued at $1,554,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently modified their holdings of MP. GAMMA Investing LLC purchased a new position in MP Materials during the fourth quarter worth approximately $26,000. TFO Wealth Partners LLC boosted its position in shares of MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after acquiring an additional 1,537 shares during the last quarter. CWM LLC grew its holdings in shares of MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the period. Global Retirement Partners LLC increased its position in MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock worth $41,000 after purchasing an additional 1,985 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.