MP Materials Corp. (NYSE:MP) Shares Bought by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its holdings in MP Materials Corp. by 68.0% in Q1, now owning 93,763 shares valued at $2,289,000.
• Analysts have raised their target prices for MP Materials, with estimates ranging from $64.00 to $80.00 and a consensus rating of "Moderate Buy."
• MP Materials reported a quarterly EPS of ($0.13), beating expectations, and a revenue of $57.39 million, up 83.6% year-over-year.

Benjamin Edwards Inc. increased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 68.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,763 shares of the company's stock after buying an additional 37,952 shares during the quarter. Benjamin Edwards Inc. owned about 0.06% of MP Materials worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after purchasing an additional 942,105 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MP Materials by 44.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after purchasing an additional 2,005,505 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after buying an additional 176,121 shares during the period. Invesco Ltd. raised its holdings in shares of MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after buying an additional 7,453 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of MP Materials by 1.2% during 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 buying an additional 13,389 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MP. Deutsche Bank Aktiengesellschaft raised their target price on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley set a $65.00 target price on MP Materials and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Canaccord Genuity Group raised their target price on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Stock Up 3.1%

MP stock traded up $2.25 during midday trading on Tuesday, hitting $74.94. 12,325,846 shares of the company's stock were exchanged, compared to its average volume of 20,742,240. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 12-month low of $11.08 and a 12-month high of $82.50. The firm has a 50 day moving average price of $46.30 and a 200-day moving average price of $31.49. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of -118.95 and a beta of 2.30.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) 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 business 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 firm posted ($0.17) EPS. The business's revenue for the quarter was up 83.6% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current 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.