MP Materials Corp. (NYSE:MP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.85.

Several brokerages recently issued reports on MP. DA Davidson increased their price objective on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Robert W. Baird increased their target price on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of MP Materials in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their price target on shares of MP Materials from $15.50 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th.

MP Materials Stock Up 1.3 %

Shares of MP opened at $17.37 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.17 and a current ratio of 6.90. MP Materials has a 12-month low of $10.02 and a 12-month high of $20.85. The business’s fifty day moving average price is $13.91 and its 200 day moving average price is $14.76.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). MP Materials had a negative return on equity of 4.28% and a negative net margin of 21.94%. The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same quarter last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was down 51.2% on a year-over-year basis. Research analysts anticipate that MP Materials will post -0.48 earnings per share for the current fiscal year.

MP Materials announced that its board has authorized a share buyback program on Tuesday, September 3rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal acquired 30,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $10.84 per share, with a total value of $325,200.00. Following the acquisition, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of large investors have recently modified their holdings of MP. TFO Wealth Partners LLC grew its holdings in shares of MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after buying an additional 1,285 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after acquiring an additional 3,956 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials during the 2nd quarter valued at $72,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in MP Materials during the 2nd quarter worth $100,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.