MP Materials (NYSE:MP) Shares Gap Up to $12.73

MP Materials Corp. (NYSE:MP) gapped up before the market opened on Monday . The stock had previously closed at $12.73, but opened at $13.25. MP Materials shares last traded at $13.19, with a volume of 488,642 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of MP Materials in a research report on Tuesday, May 14th. Morgan Stanley reduced their target price on MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $16.00 in a report on Tuesday, April 23rd. Jefferies Financial Group cut their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group cut their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

MP Materials Trading Up 7.3 %

The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -91.59 and a beta of 2.23. The business has a 50 day moving average price of $15.46 and a 200-day moving average price of $16.03.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The business had revenue of $48.68 million for the quarter, compared to analyst estimates of $46.00 million. As a group, research analysts expect that MP Materials Corp. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares in the company, valued at approximately $5,502,605.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.

Institutional Trading of MP Materials

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in MP Materials during the 4th quarter valued at $26,000. TFO Wealth Partners LLC raised its stake in MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after acquiring an additional 1,537 shares in the last quarter. CWM LLC raised its stake in MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after acquiring an additional 766 shares in the last quarter. Global Retirement Partners LLC raised its stake in MP Materials by 2,316.7% during the 1st quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after acquiring an additional 2,224 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after acquiring an additional 1,985 shares in the last quarter. 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.