BMO Capital Markets Forecasts Strong Price Appreciation for MP Materials (NYSE:MP) Stock

MP Materials (NYSE:MP) had its target price lifted by BMO Capital Markets from $19.50 to $22.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. DA Davidson raised 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. Finally, Canaccord Genuity Group raised their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Trading Down 0.5 %

MP opened at $20.72 on Monday. MP Materials has a twelve month low of $10.02 and a twelve month high of $24.01. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $19.33 and a 200-day moving average of $16.78. The stock has a market cap of $3.38 billion, a PE ratio of -38.36 and a beta of 2.31.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same quarter in the previous year, the business posted $0.02 earnings per share. On average, sell-side analysts predict that MP Materials will post -0.54 EPS for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 234,667 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the sale, the chief executive officer now directly owns 17,608,409 shares of the company’s stock, valued at $364,141,898.12. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,862 shares of company stock valued at $17,484,482. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new stake in MP Materials during the 4th quarter valued at $228,000. Tandem Financial LLC purchased a new stake in MP Materials during the 4th quarter valued at $698,000. Guidance Capital Inc. purchased a new stake in MP Materials during the 4th quarter valued at $344,000. Oak Family Advisors LLC purchased a new stake in MP Materials during the 4th quarter valued at $530,000. Finally, DAVENPORT & Co LLC boosted its position in MP Materials by 20.6% during the 4th quarter. DAVENPORT & Co LLC now owns 34,925 shares of the company’s stock valued at $545,000 after buying an additional 5,973 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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.