MP Materials Corp. (NYSE:MP) Receives $22.45 Consensus Price Target from Brokerages

MP Materials Corp. (NYSE:MP) has been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.45.

A number of research analysts have weighed in on the company. BMO Capital Markets increased their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Canaccord Genuity Group boosted their target price on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th.

MP Materials Price Performance

NYSE MP opened at $24.15 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a 1-year low of $10.02 and a 1-year high of $26.00. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -44.72 and a beta of 2.34. The business’s fifty day moving average price is $19.90 and its 200-day moving average price is $17.42.

Insider Activity

In related news, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,271,085 shares of company stock worth $26,757,696 over the last ninety days. Corporate insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in MP Materials by 3.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after purchasing an additional 73,297 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after buying an additional 306,933 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock valued at $16,843,000 after buying an additional 144,661 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of MP Materials by 48.7% during the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after buying an additional 294,806 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of MP Materials by 425.5% in the 2nd 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 during the last quarter. 52.55% of the stock is owned by institutional investors.

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.