Analysts Set MP Materials Corp. (NYSE:MP) PT at $22.10

Shares of MP Materials Corp. (NYSE:MP) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.10.

A number of research analysts have commented on MP shares. BMO Capital Markets boosted their price objective on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Canaccord Genuity Group upped their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. DA Davidson boosted their target price on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Morgan Stanley upped their price target on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 owns 18,221,776 shares in the company, valued at $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 884,862 shares of company stock worth $17,484,482. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On MP Materials

Several large investors have recently made changes to their positions in MP. Miracle Mile Advisors LLC increased its holdings in shares of MP Materials by 12.4% in the fourth quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company’s stock valued at $248,000 after buying an additional 1,750 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of MP Materials in the fourth quarter worth about $159,000. GAMMA Investing LLC increased its position in shares of MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after acquiring an additional 1,545 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after acquiring an additional 159,200 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in MP Materials by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 72,826 shares of the company’s stock worth $1,285,000 after purchasing an additional 23,441 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

MP Materials stock opened at $19.41 on Friday. The firm has a market capitalization of $3.17 billion, a P/E ratio of -35.94 and a beta of 2.31. MP Materials has a 52 week low of $10.02 and a 52 week high of $24.01. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $18.89 and a 200 day moving average price of $16.27.

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.