Bleakley Financial Group LLC Takes $254,000 Position in MP Materials Corp. (NYSE:MP)

Bleakley Financial Group LLC acquired a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,407 shares of the company's stock, valued at approximately $254,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of MP Materials in the 4th quarter valued at $6,284,000. Proficio Capital Partners LLC purchased a new stake in shares of MP Materials in the 4th quarter valued at $399,000. GAMMA Investing LLC raised its holdings 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 buying an additional 1,975 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of MP Materials in the 4th quarter valued at $388,000. Finally, Invesco Ltd. raised its holdings in shares of MP Materials by 0.4% in 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. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Stock Up 4.7%

Shares of NYSE MP traded up $2.84 during midday trading on Friday, reaching $63.10. 28,945,220 shares of the company's stock were exchanged, compared to its average volume of 6,051,681. The stock has a market capitalization of $10.31 billion, a PE ratio of -97.08 and a beta of 2.26. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $64.51. 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 business's fifty day moving average price is $31.11 and its two-hundred day moving average price is $26.17.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. Analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

MP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lowered their price objective on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $33.00 target price (up from $32.00) on shares of MP Materials in a research report on Monday, July 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.56.

MP Materials 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.