Nuveen LLC Makes New $5.61 Million Investment in MP Materials Corp. $MP

Key Points

• Nuveen LLC has made a new investment in MP Materials Corp. amounting to approximately $5.61 million, acquiring 229,740 shares of stock.
• MP Materials reported a significant increase in revenue, up 83.6% year-over-year, though it posted a loss of ($0.13) EPS for the most recent quarter.
• Analysts have varied ratings on MP Materials, with price targets ranging from $60.63 to $80.00, indicating a consensus of a "Moderate Buy" rating.

Nuveen LLC bought a new position in MP Materials Corp. (NYSE:MP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 229,740 shares of the company's stock, valued at approximately $5,608,000. Nuveen LLC owned approximately 0.14% of MP Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after buying an additional 1,975 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MP Materials by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,093,057 shares of the company's stock valued at $26,682,000 after purchasing an additional 13,389 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of MP Materials during the 1st quarter valued at about $213,000. LPL Financial LLC boosted its position in shares of MP Materials by 5.0% during the 1st quarter. LPL Financial LLC now owns 132,796 shares of the company's stock valued at $3,242,000 after acquiring an additional 6,361 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of MP Materials in the 1st quarter worth about $1,460,000. Institutional investors own 52.55% of the company's stock.

MP Materials Price Performance

Shares of MP Materials stock traded up $1.66 during trading hours on Wednesday, hitting $71.49. The company's stock had a trading volume of 6,858,106 shares, compared to its average volume of 9,330,473. The business has a 50 day moving average price of $54.87 and a two-hundred day moving average price of $34.89. MP Materials Corp. has a 12-month low of $12.31 and a 12-month high of $82.50. The company has a market cap of $12.66 billion, a PE ratio of -113.48 and a beta of 2.30. 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 announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The business's revenue was up 83.6% on a year-over-year basis. Analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MP shares. Robert W. Baird increased their target price on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley set a $65.00 price objective on MP Materials and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Canaccord Genuity Group increased their target price on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.63.

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.