Encompass More Asset Management Makes New Investment in MP Materials Corp. (NYSE:MP)

Key Points

• Encompass More Asset Management has invested $225,000 in MP Materials Corp. by acquiring 9,215 shares during the first quarter, according to their recent SEC filing.
• MP Materials stock has seen a significant increase, recently up by 4.6%, while the company's market capitalization stands at $11.19 billion.
• Although MP Materials reported a quarterly loss, revenue grew by 24.9% year-over-year, with analysts forecasting a negative EPS of -0.19 for the current fiscal year.

Encompass More Asset Management purchased a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,215 shares of the company's stock, valued at approximately $225,000.

Several other hedge funds have also bought and sold shares of MP. Price T Rowe Associates Inc. MD raised its position in MP Materials by 44.3% during the fourth 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 during the period. Dimensional Fund Advisors LP raised its position in MP Materials by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after purchasing an additional 176,121 shares during the period. Invesco Ltd. raised its position in MP Materials by 0.4% during the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after purchasing an additional 7,453 shares during the period. Northern Trust Corp raised its holdings in shares of MP Materials by 23.6% in the fourth quarter. Northern Trust Corp now owns 978,284 shares of the company's stock worth $15,261,000 after buying an additional 186,748 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of MP Materials in the fourth quarter worth approximately $14,886,000. Institutional investors own 52.55% of the company's stock.

Wall Street Analyst Weigh In

MP has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Canaccord Genuity Group boosted their target price on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Robert W. Baird lifted their price target on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $57.88.

MP Materials Stock Performance

Shares of MP Materials stock traded up $3.59 on Thursday, hitting $71.10. The stock had a trading volume of 15,479,872 shares, compared to its average volume of 24,880,886. MP Materials Corp. has a 52-week low of $10.68 and a 52-week high of $72.35. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of -109.38 and a beta of 2.30. The company's 50 day moving average price is $43.15 and its 200 day moving average price is $30.33.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS 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 company had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The firm's revenue was up 24.9% on a year-over-year basis. On average, research 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.