Cladis Investment Advisory LLC Has $1.46 Million Position in MP Materials Corp. $MP

Key Points

• Cladis Investment Advisory LLC sold 14,600 shares of MP Materials Corp, reducing its stake by 19.6% during Q1, leaving it with approximately 59,940 shares valued at $1,463,000.
• MP Materials reported a revenue increase of 83.6% year-over-year, generating $57.39 million in revenue, while also beating earnings estimates with an EPS of ($0.13).
• Institutional ownership of MP Materials stands at 52.55%, with various firms increasing their stakes, including a 44.3% increase by Price T Rowe Associates in Q4.

Cladis Investment Advisory LLC lessened its stake in MP Materials Corp. (NYSE:MP - Free Report) by 19.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,940 shares of the company's stock after selling 14,600 shares during the period. MP Materials accounts for 1.1% of Cladis Investment Advisory LLC's portfolio, making the stock its 29th biggest holding. Cladis Investment Advisory LLC's holdings in MP Materials were worth $1,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MP. Envestnet Asset Management Inc. lifted its position in MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock worth $322,000 after purchasing an additional 662 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MP Materials in the 4th quarter worth $6,284,000. Sterling Capital Management LLC lifted its holdings in shares of MP Materials by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 7,852 shares of the company's stock valued at $122,000 after buying an additional 2,858 shares during the period. Barclays PLC boosted its stake in MP Materials by 150.2% during the fourth quarter. Barclays PLC now owns 121,392 shares of the company's stock valued at $1,895,000 after buying an additional 72,868 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in MP Materials during the fourth quarter worth about $5,330,000. 52.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MP has been the subject of several research reports. Robert W. Baird raised their price objective on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Canaccord Genuity Group raised 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. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Cfra Research upgraded MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Finally, Cowen restated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, MP Materials presently has an average rating of "Moderate Buy" and an average target price of $60.63.

MP Materials Stock Down 1.6%

Shares of MP traded down $1.1430 during trading hours on Wednesday, reaching $68.1470. The company's stock had a trading volume of 8,698,597 shares, compared to its average volume of 9,288,218. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of -108.17 and a beta of 2.30. The company has a 50 day moving average of $51.04 and a two-hundred day moving average of $33.31. MP Materials Corp. has a 1-year low of $12.31 and a 1-year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company earned ($0.17) EPS. The firm's revenue was up 83.6% on a year-over-year basis. As a group, research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal 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.