Koss Olinger Consulting LLC Invests $207,000 in MP Materials Corp. (NYSE:MP)

Key Points

• Koss Olinger Consulting LLC has invested approximately $207,000 in MP Materials Corp., acquiring 8,500 shares of the stock in the first quarter.
• Wall Street analysts are optimistic about MP Materials, with several firms issuing "buy" ratings and increasing price targets, including Deutsche Bank raising its target from $20.00 to $69.00.
• In its latest earnings report, MP Materials surpassed expectations with a revenue of $57.39 million, a significant increase of 83.6% compared to the same quarter last year.

Koss Olinger Consulting LLC purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,500 shares of the company's stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JT Stratford LLC boosted its position in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after purchasing an additional 424 shares in the last quarter. CWM LLC boosted its position in shares of MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after purchasing an additional 505 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of MP Materials by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock worth $322,000 after purchasing an additional 662 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of 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 purchasing an additional 678 shares in the last quarter. Finally, Delta Investment Management LLC boosted its position in shares of MP Materials by 3.6% during the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock worth $344,000 after purchasing an additional 767 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MP. Cowen reissued a "buy" rating on shares of MP Materials in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Canaccord Genuity Group lifted their price objective on shares of MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Stock Up 4.6%

MP Materials stock opened at $74.32 on Monday. MP Materials Corp. has a fifty-two week low of $11.07 and a fifty-two week high of $79.36. The stock has a market cap of $12.15 billion, a PE ratio of -117.97 and a beta of 2.30. The firm's 50-day simple moving average is $44.20 and its 200 day simple moving average is $30.83. 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 (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The business had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm's revenue for the quarter was up 83.6% compared to the same quarter last year. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

About MP Materials

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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