MP Materials (NYSE:MP) Upgraded at Freedom Broker

Freedom Broker upgraded shares of MP Materials (NYSE:MP) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. They currently have $51.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Canaccord Genuity Group lowered their price objective on MP Materials from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley lowered their price objective on MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Finally, DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.50.

MP Materials Stock Performance

NYSE:MP opened at $37.49 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.04 and a current ratio of 6.75. The company has a fifty day moving average of $44.22 and a two-hundred day moving average of $53.85. The stock has a market capitalization of $6.68 billion, a PE ratio of -170.39 and a beta of 2.05. MP Materials has a fifty-two week low of $31.90 and a fifty-two week high of $76.80.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. MP Materials had a negative net margin of 9.90% and a negative return on equity of 0.05%. The business had revenue of $147.66 million for the quarter, compared to the consensus estimate of $117.37 million. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue was up 175.7% compared to the same quarter last year. As a group, research analysts forecast that MP Materials will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett bought 5,476 shares of the stock in a transaction on Tuesday, November 10th. The shares were bought at an average price of $36.25 per share, with a total value of $198,505.00. Following the purchase, the chief financial officer directly owned 114,493 shares in the company, valued at $4,150,371.25. This trade represents a 5.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Rosenthal bought 27,000 shares of the stock in a transaction on Tuesday, November 10th. The shares were acquired at an average cost of $36.61 per share, for a total transaction of $988,470.00. Following the purchase, the chief operating officer owned 1,360,673 shares in the company, valued at $49,814,238.53. The trade was a 2.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 92,476 shares of company stock worth $3,353,475. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On MP Materials

A number of institutional investors and hedge funds have recently bought and sold shares of MP. State Street Corp raised its holdings in MP Materials by 5.1% in the 2nd quarter. State Street Corp now owns 7,773,746 shares of the company’s stock valued at $435,408,000 after acquiring an additional 376,519 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of MP Materials by 72.4% during the 3rd quarter. Voya Investment Management LLC now owns 1,482,169 shares of the company’s stock worth $70,092,000 after purchasing an additional 622,641 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of MP Materials during the 2nd quarter worth approximately $65,230,000. Principal Financial Group Inc. boosted its holdings in shares of MP Materials by 32.4% during the 1st quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock worth $44,355,000 after purchasing an additional 225,009 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of MP Materials by 26.0% in the third quarter. Alps Advisors Inc. now owns 763,110 shares of the company’s stock valued at $36,087,000 after purchasing an additional 157,272 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Top MP Materials Stories

These are some of the MP stories that stood out recently:

• Positive Sentiment: Some investors have favored MP over smaller critical-minerals names, viewing it as a leading U.S. rare-earth producer with established revenue. Traders Pick Winners Among Critical-Minerals Stocks
• Negative Sentiment: Commentary cautions that MP’s valuation may already reflect much of its growth prospects, while rising costs could weigh on profitability. Its shares have also underperformed over the year. MP Materials Q3 Beat and Valuation
• Negative Sentiment: Potential congressional review of the government’s $400 million equity stake and related support adds policy uncertainty around the company. Federal Stake Draws Scrutiny

MP Materials Company Profile

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.