Teacher Retirement System of Texas Takes $437,000 Position in MP Materials Corp. (NYSE:MP)

Teacher Retirement System of Texas bought a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,909 shares of the company's stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MP. Price T Rowe Associates Inc. MD increased its position in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after buying an additional 2,005,505 shares in the last quarter. Dimensional Fund Advisors LP increased its position in MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after buying an additional 176,121 shares in the last quarter. Invesco Ltd. increased its position in MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after buying an additional 7,453 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after buying an additional 144,661 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of MP Materials by 23.6% in the 4th quarter. Northern Trust Corp now owns 978,284 shares of the company's stock worth $15,261,000 after purchasing an additional 186,748 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Stock Performance

NYSE:MP traded down $4.23 during mid-day trading on Monday, hitting $58.99. 24,981,323 shares of the company traded hands, compared to its average volume of 6,127,764. The stock's fifty day moving average price is $31.11 and its 200-day moving average price is $26.23. MP Materials Corp. has a one year low of $10.02 and a one year high of $64.96. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of -90.75 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. Research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday. Canaccord Genuity Group lifted their price objective on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a report on Thursday. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a report on Monday, July 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.67.

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.