MP Materials Corp. (NYSE:MP) Given Average Rating of “Moderate Buy” by Analysts

MP Materials Corp. (NYSE:MP) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.45.

MP has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Canaccord Genuity Group raised their target price on 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 Trading Up 6.9 %

NYSE MP opened at $25.60 on Thursday. The firm has a market capitalization of $4.18 billion, a P/E ratio of -47.40 and a beta of 2.34. The business has a fifty day simple moving average of $19.81 and a 200 day simple moving average of $17.30. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,271,085 shares of company stock worth $26,757,696. 12.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Oak Family Advisors LLC bought a new position in MP Materials in the 4th quarter worth about $530,000. Segall Bryant & Hamill LLC boosted its stake in 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 purchasing an additional 306,933 shares during the period. Quest Partners LLC boosted its position in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after acquiring an additional 38,204 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of MP Materials by 167.3% during the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock valued at $560,000 after acquiring an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of MP Materials during the 3rd quarter valued at about $2,300,000. 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.