Cerity Partners LLC Purchases 10,138 Shares of MP Materials Corp. (NYSE:MP)

Key Points

• Cerity Partners LLC increased its holdings in MP Materials Corp. by 99.7%, owning 20,308 shares valued at approximately $496,000 after purchasing an additional 10,138 shares in the first quarter.
• MP Materials reported a loss of $0.12 earnings per share for the latest quarter, which was below the analysts' expectations of a $0.10 loss, while revenue was $60.81 million, missing the forecast of $64.74 million.
• Wall Street analysts have shown optimism, with ratings ranging from "hold" to "buy" and price targets raised significantly, including an increase from $52 to $69 by Robert W. Baird.

Cerity Partners LLC lifted its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 99.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,308 shares of the company's stock after acquiring an additional 10,138 shares during the period. Cerity Partners LLC's holdings in MP Materials were worth $496,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. NBC Securities Inc. increased its holdings in 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. Quadrant Capital Group LLC increased its holdings in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after buying an additional 701 shares during the period. CX Institutional bought a new position in MP Materials in the 1st quarter valued at about $79,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of MP Materials in the 4th quarter valued at approximately $86,000. Finally, CENTRAL TRUST Co grew its holdings 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 valued at $97,000 after purchasing an additional 678 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a report on Friday, July 11th. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $23.00 to $34.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday. Finally, JPMorgan Chase & Co. lifted their target price 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. Five investment 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 $46.11.

MP Materials Stock Down 2.2%

Shares of MP Materials stock traded down $1.39 during trading on Tuesday, reaching $62.72. 3,899,619 shares of the company traded hands, compared to its average volume of 8,755,593. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $65.84. The company has a 50 day moving average price of $35.94 and a 200-day moving average price of $27.98. The firm has a market capitalization of $10.25 billion, a PE ratio of -96.19 and a beta of 2.26.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. As a group, equities research analysts expect 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.