MP Materials Corp. (NYSE:MP) Receives $21.40 Consensus Target Price from Brokerages

Shares of MP Materials Corp. (NYSE:MP) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.40.

MP has been the subject of a number of analyst reports. DA Davidson boosted their price objective on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of MP Materials in a report on Friday, August 2nd. BMO Capital Markets upped their price target on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a report on Tuesday, August 6th.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. 12.60% of the stock is owned by corporate insiders.

Institutional Trading of MP Materials

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position 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 buying an additional 1,285 shares during the period. Nisa Investment Advisors LLC lifted its position in MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after buying an additional 3,956 shares during the period. Signaturefd LLC lifted its position in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after buying an additional 3,262 shares during the period. Point72 Hong Kong Ltd purchased a new position in MP Materials during the second quarter worth about $72,000. Finally, KBC Group NV lifted its position in 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 period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $20.86 on Friday. MP Materials has a one year low of $10.02 and a one year high of $21.04. The company has a market cap of $3.40 billion, a PE ratio of -38.62 and a beta of 2.23. 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 business has a 50-day simple moving average of $17.87 and a 200-day simple moving average of $15.41.

MP Materials declared that its Board of Directors has authorized a share buyback program on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.