MP Materials (NYSE:MP) Trading Down 2.1% – What’s Next?

Shares of MP Materials Corp. (NYSE:MP) fell 2.1% on Tuesday . The stock traded as low as $54.59 and last traded at $56.82. 5,131,050 shares were traded during mid-day trading, a decline of 46% from the average session volume of 9,470,404 shares. The stock had previously closed at $58.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Securities raised MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $68.50 to $71.00 in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Finally, DA Davidson reaffirmed a “buy” rating and set a $82.00 price target on shares of MP Materials in a research note on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.91.

MP Materials Price Performance

The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average is $59.72 and its two-hundred day moving average is $64.90.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 385,000 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.94, for a total value of $24,231,900.00. Following the completion of the transaction, the chief executive officer owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the sale, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This represents a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 971,557 shares of company stock worth $61,630,802 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MP. Calamos Advisors LLC purchased a new position in shares of MP Materials in the third quarter worth approximately $16,726,000. Rockefeller Capital Management L.P. grew its holdings in shares of MP Materials by 132.7% during the second quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock valued at $5,888,000 after buying an additional 100,915 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in MP Materials during the third quarter valued at $670,000. Concurrent Investment Advisors LLC purchased a new stake in MP Materials in the 3rd quarter worth about $550,000. Finally, Pier 88 Investment Partners LLC acquired a new stake in MP Materials during the 3rd quarter worth about $1,089,000. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.