Shares of MP Materials Corp. (NYSE:MP – Get Free Report) have been given an average rating of “Buy” by the eighteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $80.0769.
Several equities research analysts have recently weighed in on MP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. Morgan Stanley boosted their target price on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Wedbush boosted their target price on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 8th.
MP Materials Trading Down 0.2%
MP Materials (NYSE:MP – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) EPS. Equities research analysts forecast that MP Materials will post -0.04 earnings per share for the current year.
Insiders Place Their Bets
In other news, COO Michael Stuart Rosenthal acquired 17,000 shares of MP Materials stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $56.62 per share, with a total value of $962,540.00. Following the acquisition, the chief operating officer owned 1,333,673 shares in the company, valued at $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 259,179 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $64.03, for a total value of $16,595,231.37. Following the transaction, the chief executive officer directly owned 12,505,965 shares in the company, valued at approximately $800,756,938.95. This represents a 2.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,066,000 shares of company stock valued at $69,329,207. 8.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Costello Asset Management INC lifted its stake in shares of MP Materials by 15.0% in the 4th quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. Composition Wealth LLC lifted its stake in shares of MP Materials by 0.9% in the 4th quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock valued at $926,000 after purchasing an additional 172 shares during the period. IMG Wealth Management Inc. lifted its stake in shares of MP Materials by 4.7% in the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the period. ARS Investment Partners LLC lifted its stake in shares of MP Materials by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after purchasing an additional 200 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of MP Materials by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.
MP Materials Company Profile
MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.
The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.
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