MP Materials (NYSE:MP) Trading Up 3.5%

Shares of MP Materials Corp. (NYSE:MP) were up 3.5% during trading on Tuesday . The company traded as high as $13.29 and last traded at $13.25. Approximately 770,161 shares traded hands during trading, a decline of 78% from the average daily volume of 3,429,552 shares. The stock had previously closed at $12.80.

Analyst Ratings Changes

A number of analysts have commented on MP shares. Bank of America dropped their price target on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Jefferies Financial Group dropped their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Morgan Stanley dropped their target price on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Finally, Canaccord Genuity Group dropped their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

MP Materials Trading Up 4.3 %

The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. The business’s fifty day simple moving average is $15.50 and its two-hundred day simple moving average is $16.06. The stock has a market capitalization of $2.21 billion, a P/E ratio of -89.66 and a beta of 2.23.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, analysts forecast that MP Materials Corp. will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the sale, the director now directly owns 86,000 shares in the company, valued at $1,554,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other MP Materials news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now directly owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MP Materials

Several large investors have recently bought and sold shares of MP. Westwood Holdings Group Inc. boosted its position in shares of MP Materials by 65.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 81,621 shares of the company’s stock valued at $1,167,000 after acquiring an additional 32,354 shares during the last quarter. Aurora Investment Counsel increased its stake in shares of MP Materials by 14.9% during the first quarter. Aurora Investment Counsel now owns 65,031 shares of the company’s stock valued at $930,000 after buying an additional 8,451 shares during the period. Verity Asset Management Inc. grew its stake in MP Materials by 51.5% in the first quarter. Verity Asset Management Inc. now owns 78,747 shares of the company’s stock worth $1,126,000 after purchasing an additional 26,759 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in MP Materials by 12.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company’s stock worth $675,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in MP Materials in the first quarter worth $356,000. 52.55% of the stock is currently owned by 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.