Amundi Has $2 Million Holdings in MP Materials Corp. $MP

Amundi lifted its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 561.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,662 shares of the company's stock after purchasing an additional 68,462 shares during the period. Amundi's holdings in MP Materials were worth $2,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after purchasing an additional 1,975 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of MP Materials by 1.2% in 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 last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of MP Materials in the 1st quarter valued at $213,000. LPL Financial LLC lifted its stake in shares of MP Materials by 5.0% in the 1st quarter. LPL Financial LLC now owns 132,796 shares of the company's stock valued at $3,242,000 after purchasing an additional 6,361 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of MP Materials in the 1st quarter valued at $1,460,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MP shares. JPMorgan Chase & Co. lifted their price objective on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Cowen reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Canaccord Genuity Group lifted their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, August 1st. Finally, Robert W. Baird lifted their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, MP Materials has an average rating of "Moderate Buy" and a consensus target price of $66.88.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.50% of the company's stock.

MP Materials Stock Up 1.2%

Shares of MP opened at $63.18 on Friday. The company has a 50-day simple moving average of $62.53 and a 200-day simple moving average of $38.34. The firm has a market capitalization of $11.19 billion, a P/E ratio of -100.29 and a beta of 2.32. 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 Corp. has a 52 week low of $13.40 and a 52 week high of $82.50.

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 analysts' consensus estimates of ($0.16) by $0.03. The business had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm's revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, equities research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.

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