J. Safra Sarasin Holding AG Cuts Stake in MP Materials Corp. (NYSE:MP)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in MP Materials Corp. by 29.5%, ending the quarter with 45,710 shares valued at approximately $1,116,000.
• Analysts have recently increased their price targets for MP Materials, with Deutsche Bank raising the target from $20.00 to $69.00 and several others also recommending "buy" ratings, reflecting a consensus price target of $57.88.
• MP Materials reported a revenue of $60.81 million for the quarter, which was below analysts' expectations, and posted an earnings loss of ($0.12) EPS, missing consensus estimates by ($0.02).

J. Safra Sarasin Holding AG lowered its position in MP Materials Corp. (NYSE:MP - Free Report) by 29.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,710 shares of the company's stock after selling 19,151 shares during the quarter. J. Safra Sarasin Holding AG's holdings in MP Materials were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of MP. NBC Securities Inc. lifted its stake in MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,199 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of MP Materials in the first quarter worth $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials in the 1st quarter worth $35,000. Quadrant Capital Group LLC lifted its position in MP Materials by 40.3% during the fourth 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 period. Finally, IFP Advisors Inc boosted its position in shares of 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 during the last quarter. Institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MP. JPMorgan Chase & Co. increased their target price on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Morgan Stanley set a $65.00 price target on MP Materials and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird increased their target price 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $57.88.

MP Materials Stock Up 5.3%

Shares of NYSE MP traded up $3.59 during trading on Thursday, reaching $71.10. 12,996,599 shares of the stock were exchanged, compared to its average volume of 8,972,989. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of -109.38 and a beta of 2.30. The business's 50-day moving average price is $42.13 and its 200 day moving average price is $29.98. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. MP Materials Corp. has a twelve month low of $10.68 and a twelve month high of $72.35.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. MP Materials's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 EPS 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.