MP Materials Corp. $MP Stake Boosted by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in MP Materials Corp. by 5.0%, owning 132,796 shares valued at approximately $3.24 million.
• MP Materials received several upgrades from research analysts, including a target price increase to $80.00 from Jefferies Financial Group, indicating growing investor optimism.
• The company's recent earnings report beat expectations with a revenue of $57.39 million, reflecting an 83.6% year-over-year increase.

LPL Financial LLC grew its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,796 shares of the company's stock after acquiring an additional 6,361 shares during the quarter. LPL Financial LLC owned about 0.08% of MP Materials worth $3,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JT Stratford LLC increased 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 purchasing an additional 424 shares in the last quarter. CWM LLC increased its position in MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after purchasing an additional 505 shares in the last quarter. Envestnet Asset Management Inc. grew its position in 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 acquiring an additional 662 shares in the last quarter. CENTRAL TRUST Co grew its position in 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 acquiring an additional 678 shares in the last quarter. Finally, Delta Investment Management LLC grew its position in 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 acquiring an additional 767 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MP shares. Canaccord Genuity Group increased their price objective on shares of MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Cowen reaffirmed a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. increased 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. Finally, Cfra Research raised shares of MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Stock Down 1.6%

Shares of MP Materials stock traded down $1.1430 on Wednesday, hitting $68.1470. 8,698,597 shares of the company's stock traded hands, compared to its average volume of 13,048,914. The stock has a market cap of $12.07 billion, a P/E ratio of -108.17 and a beta of 2.30. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The firm's 50-day moving average is $51.89 and its 200 day moving average is $33.55. MP Materials Corp. has a 52-week low of $12.31 and a 52-week high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $57.39 million during the quarter, compared to analysts' expectations 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 revenue was up 83.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. Equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current 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.