MP Materials Corp. (NYSE:MP) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 25.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,655,102 shares of the company's stock after purchasing an additional 536,522 shares during the period. Invesco Ltd. owned approximately 1.62% of MP Materials worth $64,811,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MP. NBC Securities Inc. increased its position in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,199 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials during the first quarter worth $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials during the first quarter worth $35,000. IFP Advisors Inc increased its position in shares of MP Materials by 47.8% during the first quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock worth $76,000 after acquiring an additional 960 shares during the period. Finally, CX Institutional purchased a new stake in shares of MP Materials during the first quarter worth $79,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MP. Cfra Research raised MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, August 1st. Morgan Stanley set a $65.00 price objective on MP Materials and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. 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. Finally, Robert W. Baird increased their target price on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Stock Performance

Shares of MP stock opened at $75.00 on Friday. The stock's 50-day moving average is $49.32 and its two-hundred day moving average is $32.63. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of -119.05 and a beta of 2.30. MP Materials Corp. has a 1 year low of $11.89 and a 1 year high of $82.50. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%. The business's quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. 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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