MP Materials (NYSE:MP) Price Target Raised to $46.00 at Morgan Stanley

MP Materials (NYSE:MPGet Rating) had its price objective hoisted by investment analysts at Morgan Stanley from $42.00 to $46.00 in a research note issued to investors on Tuesday, The Fly reports. Morgan Stanley’s target price points to a potential upside of 14.71% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Northland Securities restated an “outperform” rating and set a $60.00 price objective on shares of MP Materials in a research report on Monday. BMO Capital Markets started coverage on shares of MP Materials in a research report on Tuesday, May 31st. They set an “outperform” rating and a $50.00 price objective on the stock. Zacks Investment Research cut shares of MP Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of MP Materials from $37.00 to $45.00 in a research report on Thursday, May 5th. Finally, Benchmark upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, February 9th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $48.20.

NYSE:MP opened at $40.10 on Tuesday. MP Materials has a one year low of $28.85 and a one year high of $60.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 25.52 and a quick ratio of 24.76. The firm has a 50-day moving average of $43.19 and a 200-day moving average of $43.39. The company has a market cap of $7.12 billion, a PE ratio of 36.79, a PEG ratio of 1.70 and a beta of 3.39.

MP Materials (NYSE:MPGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.36 by $0.10. MP Materials had a net margin of 46.66% and a return on equity of 21.91%. The firm had revenue of $166.26 million during the quarter, compared to the consensus estimate of $132.40 million. During the same period last year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 177.2% compared to the same quarter last year. On average, equities research analysts expect that MP Materials will post 1.24 earnings per share for the current fiscal year.

In other news, Director Daniel Allen Gold sold 428,086 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $45.28, for a total transaction of $19,383,734.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connie K. Duckworth bought 15,200 shares of MP Materials stock in a transaction on Monday, May 9th. The shares were acquired at an average cost of $38.37 per share, with a total value of $583,224.00. Following the completion of the acquisition, the director now owns 17,684 shares of the company’s stock, valued at approximately $678,535.08. The disclosure for this purchase can be found here. Insiders sold 1,432,246 shares of company stock valued at $61,588,173 over the last ninety days. Corporate insiders own 49.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MP. Private Capital Group LLC bought a new position in shares of MP Materials during the first quarter worth $27,000. Elequin Capital LP purchased a new stake in shares of MP Materials in the first quarter valued at $45,000. Stonebridge Capital Advisors LLC raised its stake in shares of MP Materials by 645.2% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,155 shares of the company’s stock valued at $52,000 after acquiring an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of MP Materials in the first quarter valued at $69,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of MP Materials by 450.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,650 shares of the company’s stock valued at $75,000 after acquiring an additional 1,350 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

MP Materials Company Profile (Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.

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