Bayforest Capital Ltd Purchases 5,467 Shares of MP Materials Corp. (NYSE:MP)

Key Points

• Bayforest Capital Ltd has increased its stake in MP Materials Corp. by 314.6%, acquiring an additional 5,467 shares to hold a total of 7,205 shares valued at $176,000.
• MP Materials reported a quarterly loss of ($0.12) EPS, missing analyst estimates and showing a year-over-year revenue increase of 24.9% to $60.81 million.
• Equities analysts have raised their price targets for MP Materials, with estimates ranging from $55.00 to $80.00, indicating strong growth potential for the company.

Bayforest Capital Ltd increased its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 314.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,205 shares of the company's stock after purchasing an additional 5,467 shares during the period. Bayforest Capital Ltd's holdings in MP Materials were worth $176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MP. Sei Investments Co. bought a new stake in MP Materials in the fourth quarter valued at $156,000. KLP Kapitalforvaltning AS bought a new stake in MP Materials in the fourth quarter valued at $388,000. LPL Financial LLC grew its position in MP Materials by 11.2% in the fourth quarter. LPL Financial LLC now owns 126,435 shares of the company's stock valued at $1,972,000 after acquiring an additional 12,782 shares during the period. ExodusPoint Capital Management LP bought a new stake in MP Materials in the fourth quarter valued at $867,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in MP Materials in the fourth quarter valued at $86,000. 52.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Jefferies Financial Group upgraded 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. Finally, Morgan Stanley set a $65.00 target price on MP Materials and gave the stock an "equal weight" rating in a report on Thursday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $54.78.

MP Materials Trading Up 3.7%

NYSE:MP traded up $2.25 during mid-day trading on Friday, hitting $63.75. The company had a trading volume of 15,435,347 shares, compared to its average volume of 23,291,534. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $65.84. The business's fifty day moving average is $39.26 and its two-hundred day moving average is $29.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. The firm has a market cap of $10.42 billion, a P/E ratio of -98.08 and a beta of 2.29.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share 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 analyst estimates of $64.74 million. During the same period in the previous year, the company posted ($0.04) EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, 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.