Northwestern Mutual Wealth Management Co. Boosts Stock Position in MP Materials Corp. $MP

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in MP Materials Corp. by 6.4%, owning 195,032 shares worth approximately $4.76 million at the end of the first quarter.
• Analysts have raised their price targets for MP Materials, with JPMorgan Chase increasing theirs from $18.00 to $64.00 and Deutsche Bank from $20.00 to $69.00, reflecting a generally positive outlook on the stock.
• MP Materials reported a revenue of $57.39 million for the recent quarter, significantly exceeding analyst estimates and showing an 83.6% year-over-year increase.

Northwestern Mutual Wealth Management Co. lifted its position in MP Materials Corp. (NYSE:MP - Free Report) by 6.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,032 shares of the company's stock after purchasing an additional 11,783 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.12% of MP Materials worth $4,761,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MP. Sprott Inc. increased its stake in MP Materials by 11.6% in the 1st quarter. Sprott Inc. now owns 65,709 shares of the company's stock worth $1,604,000 after purchasing an additional 6,806 shares during the period. Quantbot Technologies LP purchased a new stake in shares of MP Materials during the first quarter valued at approximately $2,693,000. Northern Trust Corp boosted its stake in shares of MP Materials by 6.6% during the first quarter. Northern Trust Corp now owns 1,043,127 shares of the company's stock valued at $25,463,000 after purchasing an additional 64,843 shares during the period. American Century Companies Inc. boosted its stake in shares of MP Materials by 9.5% during the first quarter. American Century Companies Inc. now owns 46,112 shares of the company's stock valued at $1,126,000 after purchasing an additional 4,018 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of MP Materials by 155.5% during the first quarter. Sei Investments Co. now owns 25,631 shares of the company's stock valued at $575,000 after purchasing an additional 15,601 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Cfra Research raised MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft increased their price objective on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Cowen reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Finally, Robert W. Baird upped their price target on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Stock Up 2.4%

Shares of NYSE:MP opened at $71.49 on Thursday. MP Materials Corp. has a 52-week low of $12.31 and a 52-week high of $82.50. The firm has a market capitalization of $12.66 billion, a P/E ratio of -113.48 and a beta of 2.30. The stock has a 50 day moving average price of $55.55 and a 200-day moving average price of $35.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The business's revenue was up 83.6% compared to the same quarter last year. As a group, equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal 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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