New York State Common Retirement Fund Buys 15,009 Shares of MP Materials Corp. (NYSE:MP)

New York State Common Retirement Fund increased its stake in MP Materials Corp. (NYSE:MP - Free Report) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,743 shares of the company's stock after acquiring an additional 15,009 shares during the period. New York State Common Retirement Fund owned about 0.06% of MP Materials worth $2,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MP. JT Stratford LLC increased its stake in MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after purchasing an additional 424 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in MP Materials by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after purchasing an additional 662 shares in the last quarter. CENTRAL TRUST Co increased its stake in MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock valued at $97,000 after purchasing an additional 678 shares in the last quarter. Quadrant Capital Group LLC increased its stake in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. Finally, Delta Investment Management LLC increased its stake in MP Materials by 3.6% during the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock valued at $344,000 after purchasing an additional 767 shares in the last quarter. Institutional investors own 52.55% of the company's stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $60.17 on Wednesday. The company has a market capitalization of $9.83 billion, a PE ratio of -92.56 and a beta of 2.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. The company has a 50-day simple moving average of $31.11 and a two-hundred day simple moving average of $26.23. MP Materials Corp. has a one year low of $10.02 and a one year high of $65.05.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

MP has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday. Jefferies Financial Group restated a "hold" rating and set a $33.00 price target (up from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Deutsche Bank Aktiengesellschaft boosted their price target on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group raised their price objective on MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, MP Materials has an average rating of "Moderate Buy" and a consensus price target of $42.67.

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.

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