D.A. Davidson & CO. Has $2.29 Million Stock Holdings in MP Materials Corp. (NYSE:MP)

D.A. Davidson & CO. lifted its position in MP Materials Corp. (NYSE:MP - Free Report) by 119.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,593 shares of the company's stock after acquiring an additional 51,016 shares during the period. D.A. Davidson & CO. owned approximately 0.06% of MP Materials worth $2,285,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. raised its holdings in MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,199 shares during the period. Quadrant Capital Group LLC raised its holdings in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after buying an additional 701 shares during the period. SBI Securities Co. Ltd. acquired a new stake in MP Materials during the 4th quarter worth approximately $40,000. CX Institutional acquired a new stake in MP Materials during the 1st quarter worth approximately $79,000. Finally, CENTRAL TRUST Co raised its holdings in MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after buying an additional 678 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the transaction, the chief executive officer directly owned 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.60% of the company's stock.

MP Materials Price Performance

NYSE MP opened at $31.75 on Monday. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $39.10. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The firm's 50 day moving average is $26.52 and its 200-day moving average is $24.07. The company has a market capitalization of $5.19 billion, a PE ratio of -48.84 and a beta of 2.26.

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 firm had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the prior year, the business posted ($0.04) earnings per share. MP Materials's quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MP. BMO Capital Markets raised their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. DA Davidson lifted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $23.00 to $34.00 in a report on Thursday, June 5th. Finally, Robert W. Baird lifted their price objective on shares of MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.44.

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.

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