Robert W. Baird Boosts MP Materials (NYSE:MP) Price Target to $38.00

MP Materials (NYSE:MP) had its target price raised by Robert W. Baird from $30.00 to $38.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 2.18% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. DA Davidson raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. BMO Capital Markets raised their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their target price on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.06.

MP Materials Stock Performance

MP Materials stock opened at $37.19 on Tuesday. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The firm has a market cap of $6.08 billion, a P/E ratio of -57.22 and a beta of 2.14. MP Materials has a 1-year low of $10.02 and a 1-year high of $39.10. The firm has a 50-day moving average of $24.27 and a 200-day moving average of $22.79.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts expect that MP Materials will post -0.19 EPS for the current year.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 18,519 shares of MP Materials stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total value of $500,013.00. Following the completion of the transaction, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at $373,740,912. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.50% of the company’s stock.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of MP Materials in the 1st quarter worth $687,000. Bayforest Capital Ltd boosted its position in shares of MP Materials by 314.6% during the first quarter. Bayforest Capital Ltd now owns 7,205 shares of the company’s stock valued at $176,000 after buying an additional 5,467 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after buying an additional 1,257,282 shares in the last quarter. Yaupon Capital Management LP purchased a new position in MP Materials in the 1st quarter worth about $4,953,000. Finally, Empowered Funds LLC lifted its stake in MP Materials by 35.5% during the 1st quarter. Empowered Funds LLC now owns 19,775 shares of the company’s stock valued at $483,000 after acquiring an additional 5,181 shares during the period. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

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.