MP Materials Corporation (NYSE: MP) stock jumped 0.56% on Monday to $16.27 against a previous-day closing price of $16.18. With 1.64 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.69 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $16.52 whereas the lowest price it dropped to was $16.04. The 52-week range on MP shows that it touched its highest point at $36.67 and its lowest point at $14.47 during that stretch. It currently has a 1-year price target of $30.67. Beta for the stock currently stands at 2.53.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MP was up-trending over the past week, with a rise of 8.83%, but this was down by -5.57% over a month. Three-month performance dropped to -20.13% while six-month performance fell -25.44%. The stock lost -49.89% in the past year, while it has lost -32.99% so far this year. A look at the trailing 12-month EPS for MP yields 0.56 with Next year EPS estimates of 0.58. For the next quarter, that number is -0.02. This implies an EPS growth rate of -79.37% for this year and 67.58% for next year.
Float and Shares Shorts:
At present, 177.71 million MP shares are outstanding with a float of 143.41 million shares on hand for trading. On Oct 30, 2023, short shares totaled 15.11 million, which was 8.50% higher than short shares on Sep 28, 2023. In addition to Mr. James Henry Litinsky as the firm’s Chairman, President & CEO, Mr. Ryan S. Corbett serves as its Chief Financial Officer.
Through their ownership of 50.16% of MP’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MP analysts setting a high price target of $45.00 and a low target of $18.00, the average target price over the next 12 months is $30.67. Based on these targets, MP could surge 176.58% to reach the target high and rise by 10.63% to reach the target low. Reaching the average price target will result in a growth of 88.51% from current levels.
Summary of Insider Activity:
Insiders traded MP stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 3,135 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 488,201 while 61,095,419 shares were sold.