MP Materials Corp. (NYSE:MP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of MP Materials Corp. (NYSE:MP) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.10.

MP has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. DA Davidson lifted their price objective on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets boosted their target price on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Robert W. Baird boosted their target price on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th.

Insider Activity

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

Institutional Trading of MP Materials

Several institutional investors and hedge funds have recently made changes to their positions in MP. Victory Capital Management Inc. boosted its position in MP Materials by 1.2% during the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock worth $41,638,000 after purchasing an additional 28,697 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MP Materials by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after buying an additional 71,454 shares during the period. Segall Bryant & Hamill LLC grew its position in MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after purchasing an additional 306,933 shares during the last quarter. Bank of Montreal Can lifted its stake in MP Materials by 188.1% during the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after acquiring an additional 586,906 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in MP Materials by 26.3% during the 2nd quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock valued at $10,785,000 after acquiring an additional 176,219 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 1.0 %

Shares of MP stock opened at $20.96 on Friday. The firm’s fifty day moving average price is $18.96 and its two-hundred day moving average price is $16.39. MP Materials has a 1 year low of $10.02 and a 1 year high of $24.01. The firm has a market capitalization of $3.42 billion, a P/E ratio of -38.81 and a beta of 2.31. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

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.