MP Materials Corp. $MP Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI reduced its stake in MP Materials Corp. by 42.0%, now holding 10,371 shares valued at $253,000 after selling 7,505 shares during Q1.
• Various hedge funds have increased their investments in MP Materials, with NBC Securities Inc. boosting its stake by a remarkable 119,900.0%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for MP Materials, with target prices ranging from $20 to $69, reflecting optimism about the company's growth prospects.

National Bank of Canada FI trimmed its position in MP Materials Corp. (NYSE:MP - Free Report) by 42.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,371 shares of the company's stock after selling 7,505 shares during the quarter. National Bank of Canada FI's holdings in MP Materials were worth $253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MP. NBC Securities Inc. boosted its holdings in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in MP Materials in the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise acquired a new position in MP Materials in the 1st quarter valued at about $35,000. IFP Advisors Inc boosted its holdings in MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after purchasing an additional 960 shares during the last quarter. Finally, CX Institutional acquired a new position in MP Materials in the 1st quarter valued at about $79,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MP shares. Robert W. Baird boosted their target price on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, August 1st. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Cowen restated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.63.

MP Materials Stock Up 0.2%

MP Materials stock traded up $0.1420 during mid-day trading on Thursday, reaching $68.3120. 11,915,482 shares of the company's stock were exchanged, compared to its average volume of 12,863,402. The company has a market cap of $12.10 billion, a P/E ratio of -108.43 and a beta of 2.30. MP Materials Corp. has a twelve month low of $12.31 and a twelve month high of $82.50. 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 company has a fifty day moving average of $52.68 and a 200-day moving average of $33.87.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 41.87% and a negative return on equity of 9.34%. The firm's quarterly revenue was up 83.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Sell-side analysts expect that MP Materials Corp. will post -0.19 EPS 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.