Wednesday, January 27, 2021

MP Materials Corp. [MP] is 7.80% higher this YTD. Is it still time to buy?

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MP Materials Corp. [NYSE: MP] price surged by 17.56 percent to reach at $5.18. The company report on January 5, 2021 that Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of December 31, 2020 for TYG, NTG, TTP, NDP, TPZ and TEAF.

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Tortoise announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP, TPZ and TEAF.


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Tortoise Energy Infrastructure Corp. (NYSE: TYG) announced that as of December 31, 2020, the company’s unaudited total assets were approximately $456.5 million and its unaudited net asset value was $311.0 million, or $26.08 per share.

A sum of 7277429 shares traded at recent session while its average daily volume was at 3.09M shares. MP Materials Corp. shares reached a high of $34.725 and dropped to a low of $29.80 until finishing in the latest session at $34.68.

The one-year MP stock forecast points to a potential downside of -38.72. The average equity rating for MP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on MP Materials Corp. [MP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MP shares is $25.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for MP Materials Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 03, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on December 01, 2020, representing the official price target for MP Materials Corp. stock.

The Average True Range (ATR) for MP Materials Corp. is set at 3.02, with the Price to Sales ratio for MP stock in the period of the last 12 months amounting to 51.72.

MP Stock Performance Analysis:

MP Materials Corp. [MP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.32. With this latest performance, MP shares gained by 37.95% in over the last four-week period, additionally plugging by 246.80% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MP stock in for the last two-week period is set at 64.46, with the RSI for the last a single of trading hit 66.07, and the three-weeks RSI is set at 64.55 for MP Materials Corp. [MP]. The present Moving Average for the last 50 days of trading for this stock 23.34, while it was recorded at 30.58 for the last single week of trading.

Insight into MP Materials Corp. Fundamentals:

MP Materials Corp. [MP] Insider Position Details

There are presently around $638 million, or 57.05% of MP stock, in the hands of institutional investors. The top three institutional holders of MP stocks are: ALYESKA INVESTMENT GROUP, L.P. with ownership of 2,221,466, which is approximately New of the company’s market cap and around 27.01% of the total institutional ownership; MAGNETAR FINANCIAL LLC, holding 2,019,498 shares of the stock with an approximate value of $70.04 million in MP stocks shares; and GREENHOUSE FUNDS LLLP, currently with $48.35 million in MP stock with ownership of nearly New of the company’s market capitalization.

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85 institutional holders increased their position in MP Materials Corp. [NYSE:MP] by around 17,288,940 shares. Additionally, 16 investors decreased positions by around 9,232,083 shares, while 1 investors held positions by with 8,122,347 shares. The mentioned changes placed institutional holdings at 18,398,676 shares, according to the latest SEC report filing. MP stock had 85 new institutional investments in for a total of 17,288,940 shares, while 11 institutional investors sold positions of 4,931,720 shares during the same period.

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