MP Materials Corp. (NYSE:MP) Receives $22.45 Consensus Target Price from Analysts

MP Materials Corp. (NYSE:MP) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $22.45.

MP has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, BMO Capital Markets raised their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th.

Insider Activity

In related news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the sale, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of MP Materials by 23.1% during the second quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock valued at $170,000 after buying an additional 2,515 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of MP Materials during the second quarter valued at $219,000. Millennium Management LLC boosted its position in shares of MP Materials by 425.5% during the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after buying an additional 648,838 shares during the last quarter. Algert Global LLC purchased a new stake in shares of MP Materials during the second quarter valued at $182,000. Finally, GAMMA Investing LLC lifted its holdings in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after acquiring an additional 1,285 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Performance

Shares of MP opened at $25.60 on Thursday. The company has a market cap of $4.18 billion, a PE ratio of -47.40 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials has a 12-month low of $10.02 and a 12-month high of $26.00. The stock has a 50-day moving average price of $19.81 and a 200-day moving average price of $17.30.

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.