111,482 Shares in MP Materials Corp. (NYSE:MP) Bought by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has acquired a new stake in MP Materials Corp. valued at approximately $2.72 million, buying 111,482 shares during the first quarter.
• MP Materials reported a quarterly revenue of $57.39 million, significantly exceeding the consensus estimate and showcasing an 83.6% increase compared to the previous year.
• Analysts have recently boosted their price targets for MP Materials, with estimates now ranging from $64.00 to $80.00, reflecting a positive outlook amidst a "Moderate Buy" consensus rating.

Informed Momentum Co LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 111,482 shares of the company's stock, valued at approximately $2,721,000. Informed Momentum Co LLC owned 0.07% of MP Materials as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. increased its position in shares of 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 buying an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MP Materials during the first quarter valued at about $35,000. Banque Cantonale Vaudoise bought a new stake in shares of MP Materials during the first quarter valued at about $35,000. IFP Advisors Inc increased its position in shares of MP Materials by 47.8% during the first quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after buying an additional 960 shares during the period. Finally, CX Institutional bought a new stake in shares of MP Materials during the first quarter valued at about $79,000. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MP shares. Deutsche Bank Aktiengesellschaft upped their price target on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Canaccord Genuity Group upped their price objective on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Robert W. Baird upped their price objective on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Price Performance

MP traded up $2.25 during midday trading on Tuesday, hitting $74.94. The stock had a trading volume of 12,325,846 shares, compared to its average volume of 20,742,240. The company has a market cap of $12.25 billion, a P/E ratio of -118.95 and a beta of 2.30. The business has a fifty day moving average of $46.30 and a 200 day moving average of $31.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. MP Materials Corp. has a 1 year low of $11.08 and a 1 year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%. The business's quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.