Bernzott Capital Advisors reduced its stake in MP Materials Corp. (NYSE:MP - Free Report) by 2.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 414,501 shares of the company's stock after selling 12,288 shares during the quarter. MP Materials accounts for approximately 5.0% of Bernzott Capital Advisors' portfolio, making the stock its largest holding. Bernzott Capital Advisors owned 0.25% of MP Materials worth $10,118,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of MP Materials during the fourth quarter valued at about $6,284,000. Proficio Capital Partners LLC purchased a new stake in shares of MP Materials during the fourth quarter valued at approximately $399,000. GAMMA Investing LLC boosted its stake in shares of MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after purchasing an additional 1,975 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in MP Materials in the fourth quarter worth $388,000. Finally, Invesco Ltd. lifted its stake in MP Materials by 0.4% in the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after acquiring an additional 7,453 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.
MP Materials Price Performance
NYSE:MP traded up $0.24 during trading hours on Friday, reaching $60.50. The stock had a trading volume of 7,584,831 shares, compared to its average volume of 8,419,913. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $62.87. The company has a 50 day moving average price of $30.28 and a two-hundred day moving average price of $25.77. The stock has a market capitalization of $9.89 billion, a PE ratio of -93.16 and a beta of 2.26.
MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The firm had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the previous year, the firm earned ($0.04) EPS. The business's revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have issued reports on MP. Jefferies Financial Group reiterated a "hold" rating and issued a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a report on Monday, July 7th. BMO Capital Markets lifted their price objective on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Canaccord Genuity Group lifted their price objective on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Robert W. Baird raised their target price on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, MP Materials presently has an average rating of "Moderate Buy" and an average price target of $37.56.
Read Our Latest Analysis on MP Materials
MP Materials Profile
(
Free Report)
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.
Further Reading
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