MP Materials (NYSE:MP) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets assumed coverage on shares of MP Materials (NYSE:MP) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set a “market perform” rating and a $16.50 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 5.63% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut MP Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Bank of America dropped their price target on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a report on Tuesday, May 14th. Finally, Morgan Stanley decreased their target price on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $20.69.

MP Materials Price Performance

MP stock opened at $15.62 on Monday. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -104.13 and a beta of 2.23. The firm’s 50-day moving average price is $15.22 and its two-hundred day moving average price is $15.74. MP Materials has a 12-month low of $12.09 and a 12-month high of $26.53.

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

Insider Transactions at MP Materials

In other news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the completion of the transaction, the director now owns 86,000 shares in the company, valued at $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 business’s stock in a transaction dated 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 owns 325,021 shares in the company, valued at $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in MP Materials during the fourth quarter worth approximately $26,000. TFO Wealth Partners LLC lifted its position in MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC lifted its position in MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after buying an additional 766 shares during the last quarter. Global Retirement Partners LLC boosted its stake in MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock worth $33,000 after buying an additional 2,224 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in MP Materials by 2,335.3% during the fourth 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 during the last quarter. 52.55% of the stock is currently owned by 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.