MP Materials (NYSE:MP) Trading 9.5% Higher – What’s Next?

Shares of MP Materials Corp. (NYSE:MP) traded up 9.5% on Friday . The company traded as high as $17.97 and last traded at $17.94. 1,840,149 shares traded hands during trading, a decline of 17% from the average session volume of 2,223,203 shares. The stock had previously closed at $16.39.

Analyst Upgrades and Downgrades

MP has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets upped their target price on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. DA Davidson upped their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley lifted their target price on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

MP Materials Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -33.70 and a beta of 2.24. The stock’s 50 day simple moving average is $18.71 and its 200-day simple moving average is $15.91.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 884,862 shares of company stock valued at $17,484,482. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MP. Victory Capital Management Inc. grew its stake in shares of MP Materials by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock worth $41,638,000 after acquiring an additional 28,697 shares during the last quarter. Dimensional Fund Advisors LP grew its position in MP Materials by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after purchasing an additional 71,454 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the period. Bank of Montreal Can raised its position in shares of MP Materials by 188.1% during the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after buying an additional 586,906 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of MP Materials by 26.3% in the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock valued at $10,785,000 after buying an additional 176,219 shares during the period. 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.