D.A. Davidson & CO. Acquires 51,016 Shares of MP Materials Corp. (NYSE:MP)

D.A. Davidson & CO. raised its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 119.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,593 shares of the company's stock after purchasing an additional 51,016 shares during the period. D.A. Davidson & CO. owned 0.06% of MP Materials worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JT Stratford LLC lifted its position in MP Materials by 0.7% during the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after purchasing an additional 424 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of MP Materials by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after acquiring an additional 662 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of MP Materials by 20.6% in the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock valued at $97,000 after acquiring an additional 678 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the last quarter. Finally, Delta Investment Management LLC lifted its stake in shares of MP Materials by 3.6% in the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock valued at $344,000 after purchasing an additional 767 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

MP Materials Trading Down 0.2%

Shares of NYSE:MP traded down $0.05 on Tuesday, hitting $31.00. 895,612 shares of the company's stock were exchanged, compared to its average volume of 4,710,319. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $39.10. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -47.76 and a beta of 2.26. The business's 50 day simple moving average is $26.65 and its two-hundred day simple moving average is $24.18. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $64.74 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MP shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $33.00 price objective (up from $32.00) on shares of MP Materials in a research note on Monday. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. Robert W. Baird raised their price target on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. DA Davidson raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.06.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer directly owned 13,643,076 shares of the company's stock, valued at $369,454,498.08. The trade was a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.60% of the company's stock.

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.