Alps Advisors Inc. Has $2.43 Million Position in MP Materials Corp. (NYSE:MP)

Alps Advisors Inc. boosted its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,400 shares of the company's stock after purchasing an additional 19,372 shares during the period. Alps Advisors Inc. owned approximately 0.06% of MP Materials worth $2,426,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MP. NBC Securities Inc. increased its position in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,199 shares in the last quarter. Quadrant Capital Group LLC raised its stake in MP Materials by 40.3% during the 4th 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. IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at $66,000. CX Institutional acquired a new stake in shares of MP Materials in the first quarter worth $79,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of MP Materials during the fourth quarter valued at $86,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Up 7.7%

NYSE MP traded up $3.49 during trading on Monday, hitting $48.60. 23,411,877 shares of the company traded hands, compared to its average volume of 7,444,258. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $50.98. The business has a fifty day simple moving average of $27.71 and a 200 day simple moving average of $24.77. The company has a market capitalization of $7.94 billion, a P/E ratio of -74.77 and a beta of 2.26. 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 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 analyst estimates of $64.74 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. MP Materials's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MP shares. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. 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. Jefferies Financial Group reaffirmed a "hold" rating and set a $33.00 price objective (up from $32.00) on shares of MP Materials in a research report on Monday, July 7th. Robert W. Baird lifted their target price on shares of MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Finally, DA Davidson upped their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.28.

About MP Materials

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.