MP Materials (NYSE:MP) Trading 8.4% Higher – Time to Buy?

MP Materials Corp. (NYSE:MP) rose 8.4% during trading on Wednesday . The company traded as high as $21.06 and last traded at $21.02. Approximately 1,516,665 shares changed hands during trading, a decline of 56% from the average daily volume of 3,428,180 shares. The stock had previously closed at $19.39.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MP shares. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets lifted their price target on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a report on Friday, October 25th. Canaccord Genuity Group raised their target price 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. Morgan Stanley upped their target price on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Finally, DA Davidson increased their price target on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

MP Materials Trading Down 1.0 %

The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $18.93 and a 200 day moving average of $16.33. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -38.81 and a beta of 2.31.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 234,667 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total value of $4,852,913.56. Following the completion of the sale, the chief executive officer now directly owns 17,608,409 shares in the company, valued at $364,141,898.12. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the transaction, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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 Trading of MP Materials

Several institutional investors have recently modified their holdings of MP. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 1,285 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after purchasing an additional 2,200 shares during the last quarter. Signaturefd LLC lifted its stake in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. KBC Group NV increased its holdings in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials during the 2nd quarter valued at $72,000. 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.