Allianz Asset Management GmbH Acquires New Position in MP Materials Corp. (NYSE:MP)

Key Points

• Allianz Asset Management GmbH has acquired a new position in MP Materials Corp. by purchasing 11,234 shares valued at approximately $274,000 during the first quarter of the year.
• Analysts have recently upgraded their price targets for MP Materials, with Deutsche Bank increasing it from $20.00 to $69.00, and Jefferies Financial Group setting a target of $80.00.
• Despite a revenue increase of 24.9% year-over-year, MP Materials reported a loss of (0.12) earnings per share for the last quarter, missing analysts' expectations.

Allianz Asset Management GmbH bought a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,234 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. raised its stake in shares of MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MP Materials in the 1st quarter valued at approximately $35,000. Quadrant Capital Group LLC raised its position in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the period. IFP Advisors Inc lifted 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 worth $76,000 after purchasing an additional 960 shares in the last quarter. Finally, CX Institutional acquired a new position in MP Materials during the first quarter worth $79,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MP has been the subject of a number of research reports. 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. Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the stock an "equal weight" rating in a research note on Thursday. Canaccord Genuity Group increased their price target on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.88.

MP Materials Stock Performance

Shares of MP Materials stock opened at $63.75 on Monday. The business has a 50-day simple moving average of $39.26 and a 200-day simple moving average of $29.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. MP Materials Corp. has a one year low of $10.02 and a one year high of $65.84. The company has a market cap of $10.42 billion, a PE ratio of -98.08 and a beta of 2.30.

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

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