MP Materials (NYSE:MP) Given New $22.00 Price Target at BMO Capital Markets

MP Materials (NYSE:MP) had its price objective upped by BMO Capital Markets from $19.50 to $22.00 in a research report report published on Monday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. DA Davidson upped their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

MP Materials Price Performance

NYSE:MP opened at $21.49 on Monday. MP Materials has a one year low of $10.02 and a one year high of $24.01. The stock has a market cap of $3.51 billion, a PE ratio of -39.80 and a beta of 2.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a 50 day moving average price of $19.22 and a 200 day moving average price of $16.71.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share (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 period last year, the business earned $0.02 earnings per share. Equities research analysts expect that MP Materials will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at $364,830,996.72. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MP Materials

Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its holdings 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 worth $21,988,000 after buying an additional 306,933 shares during the last quarter. Quest Partners LLC lifted its stake in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in MP Materials in the third quarter valued at approximately $2,300,000. Principal Financial Group Inc. increased its stake in MP Materials by 35.7% in the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new position in MP Materials in the fourth quarter valued at approximately $922,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.