MP Materials (NYSE:MP) PT Raised to $25.00 at Robert W. Baird

MP Materials (NYSE:MP) had its price target hoisted by analysts at Robert W. Baird from $20.00 to $25.00 in a report released on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 35.94% from the stock’s previous close.

A number of other research firms have also issued reports on MP. Bank of America decreased their price objective on MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group decreased their target price on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. BMO Capital Markets began coverage on shares of MP Materials in a report on Monday, July 15th. They issued a “market perform” rating and a $16.50 price target for the company. Finally, Morgan Stanley upped their price target on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.67.

MP Materials Price Performance

Shares of NYSE MP opened at $18.39 on Friday. The company has a current ratio of 6.90, a quick ratio of 6.17 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $13.24 and a two-hundred day simple moving average of $14.54. MP Materials has a 1-year low of $10.02 and a 1-year high of $20.85. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -122.60 and a beta of 2.22.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The business had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. 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 company earned $0.07 earnings per share. Analysts anticipate that MP Materials will post -0.47 earnings per share for the current year.

MP Materials declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal purchased 30,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $10.84 per share, with a total value of $325,200.00. Following the completion of the purchase, the chief operating officer now directly owns 1,402,975 shares in the company, valued at approximately $15,208,249. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in MP Materials by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock worth $270,669,000 after purchasing an additional 254,881 shares during the period. Old West Investment Management LLC lifted its stake in shares of MP Materials by 56.3% in the 4th quarter. Old West Investment Management LLC now owns 250,000 shares of the company’s stock valued at $4,962,000 after acquiring an additional 90,000 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in MP Materials by 15.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,091 shares of the company’s stock valued at $888,000 after acquiring an additional 8,376 shares during the period. Price T Rowe Associates Inc. MD grew its position in MP Materials by 2,536.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock worth $23,767,000 after acquiring an additional 1,598,861 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in MP Materials by 12.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company’s stock worth $675,000 after purchasing an additional 5,200 shares during the period. 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.