Old West Investment Management LLC Invests $1.90 Million in MP Materials Corp. $MP

Key Points

• Old West Investment Management LLC has invested approximately $1.90 million in MP Materials Corp., acquiring 77,650 shares of the company during the first quarter.
• Multiple institutional investors have also increased their holdings in MP Materials, with a significant increase of 119,900% from NBC Securities Inc., now owning 1,200 shares valued at $29,000.
• MP Materials recently announced a quarterly earnings report, beating expectations with $57.39 million in revenue, reflecting an 83.6% increase year-over-year, despite reporting a loss of ($0.13) EPS.

Old West Investment Management LLC bought a new position in MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 77,650 shares of the company's stock, valued at approximately $1,895,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. lifted its stake in MP Materials by 119,900.0% in the first 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. purchased a new position in MP Materials in the 1st quarter valued at approximately $35,000. Banque Cantonale Vaudoise purchased a new position in MP Materials in the 1st quarter valued at approximately $35,000. IFP Advisors Inc grew its stake 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 buying an additional 960 shares in the last quarter. Finally, CX Institutional purchased a new position in MP Materials in the 1st quarter valued at approximately $79,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MP. Cfra Research raised shares of MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Robert W. Baird boosted their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Price Performance

Shares of MP Materials stock opened at $67.9640 on Monday. MP Materials Corp. has a 52-week low of $12.31 and a 52-week high of $82.50. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of -107.88 and a beta of 2.30. The company has a fifty day moving average of $53.43 and a 200-day moving average of $34.31. 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 quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm's revenue was up 83.6% on a year-over-year basis. Equities research analysts expect that MP Materials Corp. will post -0.19 EPS 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.

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