MP Materials (NYSE:MP) Price Target Raised to $38.00

MP Materials (NYSE:MP) had its price objective lifted by Robert W. Baird from $30.00 to $38.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and an average price target of $27.06.

MP Materials Price Performance

Shares of MP Materials stock opened at $37.19 on Tuesday. The stock’s 50-day simple moving average is $24.54 and its 200-day simple moving average is $22.90. MP Materials has a 52 week low of $10.02 and a 52 week high of $39.10. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -57.22 and a beta of 2.14. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $60.81 million during the quarter, compared to analysts’ expectations of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. MP Materials’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, analysts expect that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 199,180 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at $369,454,498.08. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.50% of the stock is owned by corporate insiders.

Institutional Trading of MP Materials

A number of institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in MP Materials in the fourth quarter worth $228,000. New York State Teachers Retirement System increased its stake in MP Materials by 7.3% in the fourth quarter. New York State Teachers Retirement System now owns 99,900 shares of the company’s stock worth $1,558,000 after purchasing an additional 6,800 shares during the period. Principal Financial Group Inc. increased its stake in MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock worth $14,035,000 after purchasing an additional 294,806 shares during the period. CIBC Asset Management Inc purchased a new stake in MP Materials in the fourth quarter worth $159,000. Finally, Private Advisor Group LLC increased its stake in MP Materials by 76.5% in the fourth quarter. Private Advisor Group LLC now owns 248,591 shares of the company’s stock worth $3,878,000 after purchasing an additional 107,738 shares during the period. 52.55% of the stock is currently 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.