MP Materials (NYSE:MP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

MP Materials (NYSE:MP) had its target price raised by investment analysts at BMO Capital Markets from $22.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 8.22% from the stock’s previous close.

MP has been the subject of several other reports. DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Trading Down 0.1 %

Shares of MP opened at $26.80 on Thursday. The firm’s fifty day moving average is $23.11 and its two-hundred day moving average is $19.56. The stock has a market cap of $4.38 billion, a PE ratio of -45.42 and a beta of 2.32. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials has a 52-week low of $10.02 and a 52-week high of $27.41.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Research analysts forecast that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,112,316 shares of company stock worth $28,665,974 over the last 90 days. 12.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MP Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the last quarter. Thrivent Financial for Lutherans raised its position in MP Materials by 197.0% in the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after acquiring an additional 63,751 shares in the last quarter. Quest Partners LLC increased its holdings in shares of MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in MP Materials by 13.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock valued at $8,923,000 after buying an additional 59,469 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in MP Materials by 26.9% during the third quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company’s stock worth $1,821,000 after purchasing an additional 21,858 shares during the last quarter. Hedge funds and other institutional investors 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.