MP Materials Corp. (NYSE:MP) Receives $22.10 Consensus Target Price from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.10.

A number of brokerages have weighed in on MP. DA Davidson upped their price objective on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Robert W. Baird raised their price target on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, 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 research report on Wednesday, November 27th.

MP Materials Stock Up 2.7 %

NYSE:MP opened at $21.17 on Friday. 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 firm’s 50-day moving average price is $18.91 and its 200-day moving average price is $16.30. The company has a market capitalization of $3.45 billion, a PE ratio of -39.19 and a beta of 2.31. MP Materials has a 1-year low of $10.02 and a 1-year high of $24.01.

Insider Activity

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

Institutional Trading of MP Materials

Large investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC boosted its stake 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 acquiring an additional 306,933 shares during the last quarter. Quest Partners LLC lifted its position in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in MP Materials during the third quarter valued at about $2,300,000. Principal Financial Group Inc. raised its stake in shares of MP Materials by 35.7% in the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of MP Materials during the 2nd quarter valued at about $959,000. 52.55% of the stock is currently owned by institutional investors.

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.