Public Sector Pension Investment Board Has $9.35 Million Stock Position in MP Materials Corp. (NYSE:MP)

Key Points

• The Public Sector Pension Investment Board increased its stake in MP Materials Corp. by 27.3% in the first quarter, owning a total of 382,986 shares valued at approximately $9.35 million.
• MP Materials reported a revenue increase of 83.6% year-over-year for the last quarter, achieving $57.39 million against expectations of $44.84 million.
• Wall Street analysts have set a consensus target price of $60.63 for MP Materials, with five analysts rating the stock as a "buy" and five as "hold".

Public Sector Pension Investment Board grew its position in MP Materials Corp. (NYSE:MP - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 382,986 shares of the company's stock after acquiring an additional 82,094 shares during the quarter. Public Sector Pension Investment Board owned 0.23% of MP Materials worth $9,349,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. JT Stratford LLC grew its position in 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 acquiring an additional 424 shares during the last quarter. CWM LLC grew its holdings in shares of MP Materials by 16.5% during the first quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after purchasing an additional 505 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after buying an additional 662 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of MP Materials by 20.6% in the first quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock valued at $97,000 after buying an additional 678 shares during the last quarter. Finally, Delta Investment Management LLC raised its holdings in shares of MP Materials by 3.6% in the fourth quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock valued at $344,000 after buying an additional 767 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Trading Up 1.7%

Shares of MP Materials stock traded up $1.27 during trading on Thursday, hitting $76.67. 11,156,335 shares of the company were exchanged, compared to its average volume of 16,360,357. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The firm has a market capitalization of $12.53 billion, a P/E ratio of -121.70 and a beta of 2.30. The firm's fifty day moving average price is $48.33 and its 200 day moving average price is $32.17. MP Materials Corp. has a 1-year low of $11.87 and a 1-year high of $82.50.

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, beating analysts' consensus estimates of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The business's revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, sell-side analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MP has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the company an "equal weight" rating in a report on Thursday, July 31st. 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 report on Friday, August 1st. Robert W. Baird increased their price objective on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Cowen restated a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

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.