Aigen Investment Management LP Acquires New Stake in MP Materials Corp. (NYSE:MP)

Key Points

• Aigen Investment Management LP acquired a new stake in MP Materials Corp., purchasing 8,597 shares valued at approximately $210,000 in the first quarter.
• MP Materials reported a revenue of $57.39 million for the most recent quarter, which exceeded analyst estimates by $12.55 million and reflected an 83.6% increase year-over-year.
• The stock has been rated with a consensus of "Moderate Buy" and has seen price targets adjusted by several analysts, with Deutsche Bank and others raising their price objectives to as high as $77.00.

Aigen Investment Management LP acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,597 shares of the company's stock, valued at approximately $210,000.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its stake in MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in MP Materials during the first quarter valued at $35,000. Banque Cantonale Vaudoise bought a new stake in MP Materials during the first quarter valued at $35,000. IFP Advisors Inc boosted its stake in MP Materials by 47.8% during the first 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 bought a new stake in MP Materials during the first quarter valued at $79,000. Institutional investors own 52.55% of the company's stock.

MP Materials Trading Up 1.7%

Shares of MP stock opened at $76.67 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $48.33 and a two-hundred day moving average price of $32.17. MP Materials Corp. has a 12-month low of $11.87 and a 12-month high of $82.50. The firm has a market cap of $12.53 billion, a P/E ratio of -121.70 and a beta of 2.30.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the previous year, the company posted ($0.17) EPS. MP Materials's revenue for the quarter was up 83.6% on a year-over-year basis. Equities analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MP. Robert W. Baird lifted their price objective on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Cfra Research raised MP Materials to a "moderate buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Canaccord Genuity Group lifted their price target on MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.63.

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.

Want to see what other hedge funds are holding MP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MP Materials Corp. (NYSE:MP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.