MP Materials Corp. $MP Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has reduced its stake in MP Materials Corp. by 14.5%, owning 5,589,268 shares valued at approximately $136.4 million.
• Analysts have recently upgraded MP Materials, with five firms rating it as a "buy" and raising its average target price to $60.63.
• MP Materials reported earnings of ($0.13) per share, exceeding expectations, with quarterly revenue increasing by 83.6% compared to the same quarter last year.

Price T Rowe Associates Inc. MD decreased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,589,268 shares of the company's stock after selling 948,243 shares during the period. Price T Rowe Associates Inc. MD owned about 3.42% of MP Materials worth $136,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MP. NBC Securities Inc. boosted its holdings in shares of MP Materials by 119,900.0% in the 1st 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 position in MP Materials in the first quarter worth about $35,000. Banque Cantonale Vaudoise acquired a new position in MP Materials in the first quarter valued at approximately $35,000. IFP Advisors Inc boosted its stake in MP Materials by 47.8% in the first 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 period. Finally, CX Institutional bought a new position in shares of MP Materials during the first quarter valued at approximately $79,000. 52.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MP. Cfra Research raised MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Cowen reiterated a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Canaccord Genuity Group increased their price objective on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Robert W. Baird lifted their price objective on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.63.

MP Materials Trading Down 0.5%

NYSE:MP opened at $67.9640 on Monday. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of -107.88 and a beta of 2.30. 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 $12.31 and a 1 year high of $82.50. The business has a fifty day moving average of $53.43 and a 200-day moving average of $34.31.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $57.39 million during 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%. The company's quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials Company 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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