Robert W. Baird Boosts MP Materials (NYSE:MP) Price Target to $25.00

MP Materials (NYSE:MP) had its target price increased by stock analysts at Robert W. Baird from $20.00 to $25.00 in a report released on Friday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 35.94% from the company’s previous close.

MP has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of MP Materials in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group dropped their price target on MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Bank of America reduced their price target on MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

MP Materials Stock Up 8.8 %

Shares of NYSE:MP opened at $18.39 on Friday. The stock’s 50-day moving average is $13.24 and its 200 day moving average is $14.54. The company has a market cap of $3.04 billion, a PE ratio of -122.60 and a beta of 2.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. MP Materials has a 1 year low of $10.02 and a 1 year high of $20.85.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The business had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $40.03 million. During the same period last year, the firm posted $0.07 earnings per share. MP Materials’s quarterly revenue was down 51.2% on a year-over-year basis. Sell-side analysts anticipate that MP Materials will post -0.47 EPS for the current year.

MP Materials announced that its board has approved a share repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $10.84 per share, with a total value of $325,200.00. Following the transaction, the chief operating officer now directly owns 1,402,975 shares in the company, valued at $15,208,249. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in MP Materials in the 2nd quarter worth about $100,000. Sycomore Asset Management grew its stake in shares of MP Materials by 27.8% in the second quarter. Sycomore Asset Management now owns 37,180 shares of the company’s stock worth $468,000 after acquiring an additional 8,083 shares during the period. Clearbridge Investments LLC raised its holdings in shares of MP Materials by 26.3% during the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock valued at $10,785,000 after purchasing an additional 176,219 shares during the last quarter. Aurora Investment Counsel lifted its position in MP Materials by 1.7% during the second quarter. Aurora Investment Counsel now owns 66,153 shares of the company’s stock valued at $842,000 after purchasing an additional 1,122 shares during the period. Finally, Regal Investment Advisors LLC lifted its position in MP Materials by 64.6% during the second quarter. Regal Investment Advisors LLC now owns 20,147 shares of the company’s stock valued at $256,000 after purchasing an additional 7,906 shares during the period. 52.55% of the stock is currently owned by hedge funds and other 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.