MP Materials (NYSE:MP) Hits New 1-Year High – Time to Buy?

MP Materials Corp. (NYSE:MP) reached a new 52-week high on Monday . The stock traded as high as $24.82 and last traded at $24.80, with a volume of 1573870 shares trading hands. The stock had previously closed at $23.94.

Wall Street Analyst Weigh In

MP has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets boosted their price target on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group upped their price target 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and an average price target of $22.45.

MP Materials Stock Performance

The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a market cap of $3.94 billion, a PE ratio of -44.72 and a beta of 2.34. The business’s 50 day moving average is $19.84 and its two-hundred day moving average is $17.37.

Insider Activity

In other news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the sale, the chief executive officer now owns 18,221,776 shares in the company, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at $5,398,884.30. This trade represents a 4.90 % 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MP. GAMMA Investing LLC raised its stake in MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of MP Materials in the 4th quarter worth about $40,000. Geneos Wealth Management Inc. raised its position in shares of MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC grew its position in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Signaturefd LLC increased its stake in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after acquiring an additional 3,262 shares during the last quarter. Hedge funds and other 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.