MP Materials (NYSE:MP) Stock Price Up 3.7% – Time to Buy?

Shares of MP Materials Corp. (NYSE:MP) traded up 3.7% during mid-day trading on Monday . The stock traded as high as $60.15 and last traded at $59.3250. 5,110,669 shares traded hands during trading, a decline of 35% from the average session volume of 7,863,746 shares. The stock had previously closed at $57.21.

Analysts Set New Price Targets

A number of research firms have commented on MP. William Blair reaffirmed an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a research report on Wednesday, March 11th. The Goldman Sachs Group initiated coverage on shares of MP Materials in a report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price target for the company. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, MP Materials currently has a consensus rating of “Buy” and an average price target of $78.91.

MP Materials Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. The stock has a 50 day moving average of $61.65 and a 200 day moving average of $63.36. The stock has a market capitalization of $10.51 billion, a P/E ratio of -114.09 and a beta of 1.55.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the transaction, the chief executive officer owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EMC Capital Management bought a new position in MP Materials in the 4th quarter worth about $25,000. Sound Income Strategies LLC raised its holdings in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $26,000. REAP Financial Group LLC acquired a new position in shares of MP Materials during the fourth quarter worth approximately $26,000. Finally, Financial Consulate Inc. grew its holdings in MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after buying an additional 472 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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.