MP Materials Corp. (NYSE:MP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MP Materials Corp. (NYSE:MP) have been assigned a consensus rating of “Buy” from the sixteen analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $78.9091.

A number of brokerages have recently weighed in on MP. Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research report on Wednesday. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $76.00 to $75.00 in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $71.00 in a research note on Monday, November 10th. Finally, Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $68.50 to $71.00 in a research report on Friday, December 5th.

MP Materials Trading Down 5.5%

MP opened at $55.31 on Monday. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of -77.91 and a beta of 1.60. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. MP Materials has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a 50-day simple moving average of $59.60 and a 200 day simple moving average of $64.69.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the sale, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 385,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the transaction, the chief executive officer owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 723,146 shares of company stock valued at $45,767,276 in the last three months. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new stake in MP Materials during the 4th quarter worth $38,000. Corient Private Wealth LLC raised its position in MP Materials by 404.4% in the fourth quarter. Corient Private Wealth LLC now owns 107,642 shares of the company’s stock valued at $5,438,000 after purchasing an additional 86,303 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in shares of MP Materials during the fourth quarter valued at about $477,000. Vident Advisory LLC grew its holdings in shares of MP Materials by 415.2% during the fourth quarter. Vident Advisory LLC now owns 28,527 shares of the company’s stock worth $1,441,000 after purchasing an additional 22,990 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of MP Materials by 38.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 5,660 shares of the company’s stock worth $286,000 after purchasing an additional 1,558 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

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.