MP Materials Corp. [NYSE: MP] stock went on a downward path that fall over -7.01% on Tuesday, amounting to a one-week price decrease of less than -19.88%. The company report on March 24, 2021 that MP Materials Announces Pricing of $600 Million Green Convertible Senior Notes Offering.
MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) announced the pricing of an offering of $600 million principal amount of its 0.25% Green Convertible Senior Notes due 2026 (the “notes”) through a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MP Materials has also granted the initial purchasers an option to purchase, exercisable within the 30-day period immediately following the pricing date of the offering, up to an additional $90 million principal amount of notes. The offering is expected to close on March 26, 2021, subject to customary closing conditions.
The notes will be senior unsecured obligations of MP Materials, and interest will be payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The notes will mature on April 1, 2026, unless earlier converted, redeemed or repurchased. MP Materials may redeem for cash all or any portion of the notes, at MP Materials’ option, on or after April 5, 2024, if the last reported sale price of MP Materials’ common stock (the “common stock”) has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest.
The one-year MP Materials Corp. stock forecast points to a potential upside of 39.82. The average equity rating for MP stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.84 billion, with 189.39 million shares outstanding and 110.63 million shares in the current float. Compared to the average trading volume of 5.87M shares, MP stock reached a trading volume of 7775434 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $45.60 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 2.40. 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.
BofA Securities have made an estimate for MP Materials Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 01, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on March 10, 2021, representing the official price target for MP Materials Corp. stock. Previously, the target price had yet another raise to $37, while Deutsche Bank analysts kept a Hold rating on MP stock.
The Average True Range (ATR) for MP Materials Corp. is set at 2.93, with the Price to Sales ratio for MP stock in the period of the last 12 months amounting to 36.05. The Price to Book ratio for the last quarter was 6.08, with the Price to Cash per share for the same quarter was set at 2.95. Price to Free Cash Flow for MP in the course of the last twelve months was 1466.96 with Quick ratio for the last quarter at 12.30.
MP Stock Performance Analysis:
MP Materials Corp. [MP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.88. With this latest performance, MP shares dropped by -40.33% in over the last four-week period, additionally plugging by 97.69% 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 32.46, with the RSI for the last a single of trading hit 23.98, and the three-weeks RSI is set at 37.86 for MP Materials Corp. [MP]. The present Moving Average for the last 50 days of trading for this stock 38.50, while it was recorded at 30.77 for the last single week of trading, and 23.57 for the last 200 days.
Insight into MP Materials Corp. Fundamentals:
MP Materials Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.30 and a Current Ratio set at 13.00.
MP Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MP Materials Corp. go to 54.77%.
MP Materials Corp. [MP] Insider Position Details
There are presently around $3,015 million, or 63.50% of MP stock, in the hands of institutional investors. The top three institutional holders of MP stocks are: JHL CAPITAL GROUP LLC with ownership of 47,539,477, which is approximately New of the company’s market cap and around 1.50% of the total institutional ownership; QVT FINANCIAL LP, holding 22,822,806 shares of the stock with an approximate value of $626.26 million in MP stocks shares; and FORTRESS INVESTMENT GROUP LLC, currently with $273.44 million in MP stock with ownership of nearly New of the company’s market capitalization.
120 institutional holders increased their position in MP Materials Corp. [NYSE:MP] by around 100,757,340 shares. Additionally, 54 investors decreased positions by around 8,825,860 shares, while 5 investors held positions by with 300,201 shares. The mentioned changes placed institutional holdings at 109,883,401 shares, according to the latest SEC report filing. MP stock had 88 new institutional investments in for a total of 90,489,403 shares, while 30 institutional investors sold positions of 4,768,011 shares during the same period.