Quantbot Technologies LP Takes Position in MP Materials Corp. $MP

Key Points

• Quantbot Technologies LP has acquired a new position in MP Materials Corp., purchasing 110,320 shares valued at approximately $2.69 million during the first quarter.
• MP Materials received upgrades from multiple analysts, with a consensus rating of "Moderate Buy" and an average price target of $60.63, following robust quarterly earnings that surpassed expectations.
• The company reported a revenue increase of 83.6% year-over-year, demonstrating significant growth despite a negative net margin.

Quantbot Technologies LP bought a new stake in MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 110,320 shares of the company's stock, valued at approximately $2,693,000. Quantbot Technologies LP owned 0.07% of MP Materials as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its position in MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MP Materials in the first quarter valued at $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials in the 1st quarter valued at $35,000. IFP Advisors Inc raised its holdings in shares of MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after buying an additional 960 shares during the period. Finally, CX Institutional purchased a new stake in shares of MP Materials in the 1st quarter valued at $79,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

MP has been the topic of several research analyst reports. Cowen reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Cfra Research upgraded MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Canaccord Genuity Group boosted their price objective on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Stock Down 0.5%

Shares of NYSE:MP traded down $0.3160 on Friday, hitting $67.9640. 10,358,610 shares of the company's stock were exchanged, compared to its average volume of 13,025,305. The firm's 50-day moving average is $53.43 and its 200 day moving average is $34.17. The company has a market capitalization of $12.04 billion, a PE ratio of -107.88 and a beta of 2.30. MP Materials Corp. has a 1-year low of $12.31 and a 1-year high of $82.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business's quarterly revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. Sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

MP Materials Company Profile

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.