NewEdge Advisors LLC Acquires 22,958 Shares of MP Materials Corp. $MP

Key Points

• NewEdge Advisors increased its MP Materials stake by 135.8% in the second quarter, purchasing 22,958 additional shares for a total holding of 39,866 shares valued at approximately $2.23 million. Institutional investors collectively own 52.55% of the company.
• MP Materials reported a quarterly loss of $0.01 per share, in line with estimates, while revenue reached $108.49 million—an 89% year-over-year increase and above analyst expectations.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $76.58, despite several firms recently lowering their individual targets.

NewEdge Advisors LLC increased its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 135.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 39,866 shares of the company's stock after buying an additional 22,958 shares during the quarter. NewEdge Advisors LLC's holdings in MP Materials were worth $2,233,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MP. IFP Advisors Inc lifted its stake in MP Materials by 15.4% during the 2nd quarter. IFP Advisors Inc now owns 40,676 shares of the company's stock valued at $2,278,000 after acquiring an additional 5,419 shares during the period. Allworth Financial LP grew its stake in shares of MP Materials by 4.5% in the second quarter. Allworth Financial LP now owns 5,679 shares of the company's stock worth $318,000 after acquiring an additional 243 shares during the period. Arizona State Retirement System grew its stake in shares of MP Materials by 0.8% in the second quarter. Arizona State Retirement System now owns 39,219 shares of the company's stock worth $2,197,000 after acquiring an additional 329 shares during the period. Nykredit A S purchased a new position in shares of MP Materials during the second quarter valued at approximately $275,000. Finally, Corient Private Wealth LP raised its holdings in shares of MP Materials by 9.2% during the second quarter. Corient Private Wealth LP now owns 37,760 shares of the company's stock valued at $2,115,000 after purchasing an additional 3,178 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Price Performance

Shares of NYSE:MP opened at $49.41 on Friday. The firm's 50 day moving average price is $51.07 and its 200-day moving average price is $56.20. MP Materials Corp. has a twelve month low of $37.81 and a twelve month high of $100.25. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $8.80 billion, a PE ratio of -145.32 and a beta of 1.94.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm's quarterly revenue was up 89.0% compared to the same quarter last year. Equities research analysts expect that MP Materials Corp. will post -0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MP Materials from $70.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Needham & Company LLC cut their target price on shares of MP Materials from $81.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of MP Materials from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a "buy" rating on shares of MP Materials in a report on Tuesday, September 8th. Finally, Barclays dropped their price target on MP Materials from $69.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.58.

MP Materials Profile

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass rare earth mine and processing facility in California. The site is one of the largest rare earth production facilities in the Western Hemisphere and produces rare earth concentrate, with an emphasis on neodymium-praseodymium (NdPr), materials used in high-performance permanent magnets.

The company is expanding its operations beyond mining and concentrate production into separated rare earth products and magnet manufacturing.

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