Bryce Point Capital LLC Buys New Shares in MP Materials Corp. (NYSE:MP)

Key Points

• Bryce Point Capital LLC has acquired 27,837 shares of MP Materials Corp., valued at approximately $744,000, marking a significant investment in the rare earth materials company.
• Analysts have increased their price targets for MP Materials, with Robert W. Baird and Deutsche Bank both raising targets to $69.00, reflecting growing confidence in the stock's potential.
• Despite a revenue miss in its latest quarterly report, MP Materials saw a 24.9% year-over-year increase in revenue, highlighting its growth trajectory amidst recent challenges.

Bryce Point Capital LLC acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,837 shares of the company's stock, valued at approximately $744,000.

Other large investors also recently modified their holdings of the company. JT Stratford LLC lifted its position in shares of MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after buying an additional 424 shares in the last quarter. CWM LLC increased its holdings in MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after purchasing an additional 505 shares during the period. Envestnet Asset Management Inc. grew its holdings in MP Materials by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock worth $322,000 after acquiring an additional 662 shares in the last quarter. CENTRAL TRUST Co grew its holdings in MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after acquiring an additional 678 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares during the period. Institutional investors own 52.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft upped 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. JPMorgan Chase & Co. lifted their target price on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Canaccord Genuity Group upped their price target on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Morgan Stanley set a $65.00 target price on MP Materials and gave the company an "equal weight" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of "Hold" and an average price target of $49.56.

MP Materials Trading Up 0.9%

MP traded up $0.56 on Thursday, hitting $61.41. The company had a trading volume of 4,473,126 shares, compared to its average volume of 8,789,776. The firm has a market cap of $10.04 billion, a P/E ratio of -94.57 and a beta of 2.26. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $65.84. The company's fifty day moving average price is $37.56 and its 200 day moving average price is $28.43. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data 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). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The company had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The firm's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials 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.