MP Materials (NYSE:MP) Price Target Raised to $32.00 at DA Davidson

MP Materials (NYSE:MP) had its target price boosted by research analysts at DA Davidson from $25.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 22.04% from the stock’s previous close.

A number of other analysts have also commented on the company. BMO Capital Markets lifted their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.61.

MP Materials Stock Down 2.2 %

MP stock opened at $26.22 on Wednesday. MP Materials has a twelve month low of $10.02 and a twelve month high of $27.29. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average is $23.24 and its 200-day moving average is $19.60. The firm has a market capitalization of $4.29 billion, a PE ratio of -44.44 and a beta of 2.32.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $50.71 million. Sell-side analysts expect that MP Materials will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now directly owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction 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 completion of the transaction, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,316 shares of company stock worth $28,665,974 over the last ninety days. 12.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MP Materials

Several hedge funds have recently made changes to their positions in the stock. JT Stratford LLC grew its position in shares of MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock valued at $993,000 after purchasing an additional 424 shares in the last quarter. Captrust Financial Advisors grew its position in shares of MP Materials by 5.0% in the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after purchasing an additional 557 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock valued at $322,000 after purchasing an additional 662 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. Finally, SWS Partners grew its position in MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after buying an additional 707 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other 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.