MP Materials Corp. (NYSE:MP – Get Free Report) shares shot up 5.3% during trading on Wednesday . The company traded as high as $13.03 and last traded at $12.96. 990,974 shares changed hands during trading, a decline of 70% from the average session volume of 3,269,272 shares. The stock had previously closed at $12.31.
Analyst Upgrades and Downgrades
MP has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of MP Materials in a research note on Friday, August 2nd. Morgan Stanley decreased their target price on 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. Robert W. Baird dropped their price target on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Bank of America dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $20.22.
MP Materials Price Performance
The company has a debt-to-equity ratio of 0.82, a current ratio of 10.29 and a quick ratio of 9.28. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -87.87 and a beta of 2.22. The stock’s fifty day moving average price is $13.20 and its 200-day moving average price is $14.87.
MP Materials (NYSE:MP – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The firm had revenue of $31.26 million for the quarter, compared to analyst estimates of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.13%. MP Materials’s revenue for the quarter was down 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. Equities research analysts predict that MP Materials Corp. will post -0.34 EPS for the current fiscal year.
Insider Activity at MP Materials
In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of MP Materials stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $10.84 per share, with a total value of $325,200.00. Following the completion of the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at $15,208,249. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the acquisition, the chief operating officer now directly owns 1,402,975 shares in the company, valued at approximately $15,208,249. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now directly 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 owned by insiders.
Institutional Investors Weigh In On MP Materials
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in MP Materials in the fourth quarter valued at approximately $26,000. TFO Wealth Partners LLC lifted its stake in shares of MP Materials by 153,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the last quarter. CWM LLC boosted its holdings 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 purchasing an additional 766 shares in the last quarter. Global Retirement Partners LLC increased its position 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 last quarter. Finally, Nisa Investment Advisors LLC raised its holdings 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 valued at $52,000 after buying an additional 3,956 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other 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.