MP Materials Corp. (NYSE:MP) Stock Position Raised by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers significantly increased its stake in MP Materials by 193.1%, now holding 123,455 shares valued at approximately $3.01 million.
• MP Materials has received varying evaluations from analysts, with a consensus average target price of $57.88 and several upgrades in ratings from firms such as JPMorgan Chase and Robert W. Baird.
• The company's latest earnings report revealed a loss of ($0.12) per share, falling short of analysts' expectations but showing a 24.9% year-over-year revenue increase.

Cetera Investment Advisers lifted its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 193.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,455 shares of the company's stock after acquiring an additional 81,337 shares during the quarter. Cetera Investment Advisers owned 0.08% of MP Materials worth $3,014,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock worth $140,000 after purchasing an additional 1,975 shares during the period. Invesco Ltd. boosted its stake in MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after purchasing an additional 7,453 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of MP Materials during the 1st quarter valued at $213,000. Sei Investments Co. acquired a new stake in shares of MP Materials during the 4th quarter valued at $156,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of MP Materials during the 1st quarter valued at $1,460,000. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MP shares. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. lifted their target price on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Robert W. Baird lifted their target price on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Canaccord Genuity Group lifted their price objective on shares of MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $57.88.

MP Materials Stock Up 4.6%

Shares of MP opened at $68.42 on Wednesday. The company has a 50-day simple moving average of $41.17 and a 200-day simple moving average of $29.72. The firm has a market capitalization of $11.19 billion, a P/E ratio of -105.26 and a beta of 2.30. 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 $10.36 and a 52 week high of $68.42.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $60.81 million during 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 was up 24.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. On average, equities research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

About MP Materials

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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