DA Davidson Issues Positive Forecast for MP Materials (NYSE:MP) Stock Price

MP Materials (NYSE:MP) had its target price raised by DA Davidson from $25.00 to $32.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

MP has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets raised their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.83.

MP Materials Stock Performance

Shares of MP Materials stock opened at $26.80 on Wednesday. The business has a 50-day simple moving average of $23.11 and a 200 day simple moving average of $19.56. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a one year low of $10.02 and a one year high of $27.41.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The firm had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. On average, research analysts anticipate that MP Materials will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 489,918 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the transaction, the chief executive officer now owns 15,153,158 shares in the company, valued at $405,650,039.66. This represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 60,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,112,316 shares of company stock worth $28,665,974. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Oak Family Advisors LLC purchased a new position in MP Materials in the fourth quarter valued at approximately $530,000. Segall Bryant & Hamill LLC lifted its position in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Quest Partners LLC grew its stake in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after acquiring an additional 38,204 shares during the period. SG Americas Securities LLC increased its holdings in MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after acquiring an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in MP Materials in the 3rd quarter valued at about $2,300,000. 52.55% of the stock is owned by institutional investors.

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.