MP Materials (NYSE:MP) Stock Price Expected to Rise, DA Davidson Analyst Says

MP Materials (NYSE:MP) had its price objective hoisted by equities research analysts at DA Davidson from $25.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 18.78% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.35.

MP Materials Trading Up 0.4 %

Shares of NYSE MP traded up $0.11 during midday trading on Wednesday, hitting $26.94. 488,099 shares of the company traded hands, compared to its average volume of 3,090,859. MP Materials has a 12-month low of $10.02 and a 12-month high of $27.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a 50-day moving average price of $22.96 and a 200 day moving average price of $19.50. The firm has a market cap of $4.40 billion, a P/E ratio of -45.47 and a beta of 2.32.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. As a group, analysts expect that MP Materials will post -0.19 earnings per share for the current year.

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 461,223 shares of company stock worth $11,208,814. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MP. KBC Group NV lifted its position in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after purchasing an additional 1,246 shares during the period. Thrivent Financial for Lutherans increased its holdings in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after buying an additional 63,751 shares during the last quarter. Quest Partners LLC increased its holdings in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in MP Materials by 13.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock valued at $8,923,000 after buying an additional 59,469 shares during the last quarter. 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.