IMA Advisory Services Inc. Sells 12,526 Shares of MP Materials Corp. (NYSE:MP)

IMA Advisory Services Inc. lessened its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,430 shares of the company's stock after selling 12,526 shares during the period. IMA Advisory Services Inc.'s holdings in MP Materials were worth $1,011,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MP. NBC Securities Inc. lifted its position in MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials during the 1st quarter valued at about $35,000. Quadrant Capital Group LLC grew its stake in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares in the last quarter. IFP Advisors Inc grew its stake in MP Materials by 47.8% during the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after acquiring an additional 960 shares in the last quarter. Finally, CX Institutional purchased a new stake in MP Materials during the 1st quarter valued at about $79,000. Institutional investors own 52.55% of the company's stock.

MP Materials Stock Up 2.0%

MP Materials stock opened at $60.17 on Wednesday. The company has a 50-day simple moving average of $31.11 and a 200-day simple moving average of $26.23. The firm has a market capitalization of $9.83 billion, a P/E ratio of -92.56 and a beta of 2.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. MP Materials Corp. has a one year low of $10.02 and a one year high of $65.05.

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 analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. MP Materials's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

MP has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday. Robert W. Baird upped their price objective on shares of MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Canaccord Genuity Group increased their target price on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group reiterated a "hold" rating and set a $33.00 target price (up from $32.00) on shares of MP Materials in a report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.67.

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.

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