MP Materials Corp. $MP Shares Sold by Mirova

Key Points

• Mirova has reduced its holdings in MP Materials Corp. by 27.4% during Q1, owning 52,897 shares worth approximately $1,291,000 after selling 20,000 shares.
• The company reported earnings of ($0.13) per share, exceeding estimates, with revenue up 83.6% from the previous year.
• Analysts have set a consensus price target of $60.63 for MP Materials, with some having upgraded their ratings to 'buy' based on expected performance.

Mirova decreased its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 27.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,897 shares of the company's stock after selling 20,000 shares during the period. Mirova's holdings in MP Materials were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in MP Materials during the 1st quarter worth $2,431,000. Jump Financial LLC purchased a new stake in MP Materials during the 1st quarter worth $962,000. Northwestern Mutual Wealth Management Co. increased its stake in MP Materials by 6.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 195,032 shares of the company's stock worth $4,761,000 after buying an additional 11,783 shares during the period. Sprott Inc. increased its stake in MP Materials by 11.6% during the 1st quarter. Sprott Inc. now owns 65,709 shares of the company's stock worth $1,604,000 after buying an additional 6,806 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of MP Materials in the 1st quarter valued at approximately $2,693,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MP shares. Canaccord Genuity Group upped their target price on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Robert W. Baird raised their price objective on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MP Materials presently has an average rating of "Moderate Buy" and an average target price of $60.63.

MP Materials Stock Performance

Shares of NYSE:MP traded up $1.66 during trading on Wednesday, reaching $71.49. 6,853,482 shares of the company's stock traded hands, compared to its average volume of 9,330,177. The stock has a market capitalization of $12.66 billion, a P/E ratio of -113.48 and a beta of 2.30. The company has a 50 day moving average of $54.87 and a 200-day moving average of $34.89. MP Materials Corp. has a 12 month low of $12.31 and a 12 month high of $82.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12.

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