MP Materials Corp. (NYSE:MP – Get Rating) has received an average rating of "Buy" from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $50.19.
Several equities research analysts recently commented on the company. BMO Capital Markets assumed coverage on MP Materials in a research note on Tuesday, May 31st. They issued an "outperform" rating and a $50.00 price target for the company. Canaccord Genuity Group assumed coverage on MP Materials in a research note on Wednesday, July 13th. They issued a "buy" rating and a $44.00 price target for the company. Northland Securities reissued an "outperform" rating and issued a $60.00 price target on shares of MP Materials in a research note on Monday, June 6th. Morgan Stanley decreased their target price on MP Materials from $46.00 to $45.50 and set an "overweight" rating for the company in a research report on Friday, September 16th. Finally, Robert W. Baird upped their target price on MP Materials from $45.00 to $55.00 in a research report on Friday, August 5th.
Get MP Materials alerts:MP Materials Price Performance
Shares of MP opened at $27.97 on Tuesday. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 1.35 and a beta of 2.83. MP Materials has a fifty-two week low of $27.48 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 20.39 and a quick ratio of 19.75. The business's 50-day moving average is $33.65 and its 200-day moving average is $38.13.
MP Materials (NYSE:MP – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.07. The company had revenue of $143.50 million for the quarter, compared to the consensus estimate of $128.75 million. MP Materials had a return on equity of 25.19% and a net margin of 49.26%. The firm's quarterly revenue was up 96.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Equities research analysts expect that MP Materials will post 1.37 EPS for the current fiscal year.Insiders Place Their Bets
In related news, Director Daniel Allen Gold sold 250,000 shares of the firm's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $39.49, for a total value of $9,872,500.00. Following the transaction, the director now owns 1,302,031 shares in the company, valued at $51,417,204.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MP Materials news, CEO James H. Litinsky sold 4,000,000 shares of the business's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $37.75, for a total transaction of $151,000,000.00. Following the transaction, the chief executive officer now owns 8,603,411 shares of the company's stock, valued at approximately $324,778,765.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Allen Gold sold 250,000 shares of MP Materials stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $39.49, for a total value of $9,872,500.00. Following the transaction, the director now owns 1,302,031 shares of the company's stock, valued at $51,417,204.19. The disclosure for this sale can be found here. Insiders sold 5,084,016 shares of company stock worth $190,276,278 over the last three months. 41.30% of the stock is currently owned by corporate insiders.
Institutional Trading of MP Materials
Institutional investors have recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC raised its holdings in MP Materials by 1.7% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 17,699 shares of the company's stock valued at $603,000 after acquiring an additional 294 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in MP Materials by 17.5% in the 2nd quarter. Exchange Traded Concepts LLC now owns 2,286 shares of the company's stock valued at $73,000 after acquiring an additional 341 shares in the last quarter. Natixis Advisors L.P. raised its holdings in MP Materials by 2.3% in the 2nd quarter. Natixis Advisors L.P. now owns 18,810 shares of the company's stock valued at $603,000 after acquiring an additional 416 shares in the last quarter. Mirador Capital Partners LP raised its holdings in MP Materials by 3.6% in the 2nd quarter. Mirador Capital Partners LP now owns 13,562 shares of the company's stock valued at $435,000 after acquiring an additional 468 shares in the last quarter. Finally, Private Capital Group LLC acquired a new position in MP Materials in the 1st quarter valued at $27,000. 71.49% of the stock is currently owned by institutional investors.
About MP Materials
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MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.
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