MP Materials Corp. (NYSE:MP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

MP Materials Corp. (NYSE:MP) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $79.00.

Several brokerages recently issued reports on MP. Cowen restated a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and cut their target price for the company from $75.00 to $74.00 in a research note on Friday. Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, August 1st. Canaccord Genuity Group boosted their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday.

MP Materials Stock Performance

MP opened at $58.51 on Friday. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $69.11 and its two-hundred day moving average price is $52.78. The firm has a market capitalization of $10.37 billion, a P/E ratio of -82.40 and a beta of 2.26. MP Materials has a 12-month low of $15.56 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The business had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. During the same quarter last year, the company posted ($0.12) earnings per share. MP Materials’s quarterly revenue was down 14.9% on a year-over-year basis. On average, equities analysts forecast that MP Materials will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MP. Ashford Capital Management Inc. bought a new position in shares of MP Materials in the 3rd quarter valued at about $402,000. Ancora Advisors LLC lifted its holdings in MP Materials by 408.8% in the third quarter. Ancora Advisors LLC now owns 1,394 shares of the company’s stock valued at $93,000 after buying an additional 1,120 shares during the period. Imprint Wealth LLC bought a new position in MP Materials in the third quarter valued at approximately $402,000. Raymond James Financial Inc. grew its holdings in MP Materials by 66.0% during the 3rd quarter. Raymond James Financial Inc. now owns 519,905 shares of the company’s stock worth $34,870,000 after acquiring an additional 206,647 shares during the period. Finally, Amundi raised its position in shares of MP Materials by 1,320.8% during the 3rd quarter. Amundi now owns 954,317 shares of the company’s stock valued at $70,934,000 after acquiring an additional 887,148 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

About MP Materials

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.