MP Materials Corp. (NYSE:MP) Receives Consensus Rating of “Moderate Buy” from Brokerages

MP Materials Corp. (NYSE:MP) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.10.

A number of analysts have recently issued reports on MP shares. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets boosted their price target on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. DA Davidson lifted their price objective on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley increased their target price on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th.

MP Materials Trading Up 2.7 %

Shares of MP stock opened at $21.17 on Friday. MP Materials has a 52-week low of $10.02 and a 52-week high of $24.01. The business’s fifty day moving average is $18.91 and its 200 day moving average is $16.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market capitalization of $3.45 billion, a PE ratio of -39.19 and a beta of 2.31.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 234,667 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the sale, the chief executive officer now owns 17,608,409 shares of the company’s stock, valued at approximately $364,141,898.12. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 884,862 shares of company stock valued at $17,484,482. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MP. Millennium Management LLC boosted its holdings in MP Materials by 425.5% in the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after acquiring an additional 648,838 shares in the last quarter. Bank of Montreal Can lifted its position in shares of MP Materials by 188.1% in the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after purchasing an additional 306,933 shares in the last quarter. Public Sector Pension Investment Board bought a new position in MP Materials in the third quarter worth about $4,584,000. Finally, Bernzott Capital Advisors lifted its holdings in MP Materials by 43.4% in the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock worth $12,166,000 after buying an additional 208,586 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Company Profile

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.