Oppenheimer & Co. Inc. Has $818,000 Stock Position in MP Materials Corp. (NYSE:MP)

Oppenheimer & Co. Inc. lessened its position in MP Materials Corp. (NYSE:MP - Free Report) by 21.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 33,530 shares of the company's stock after selling 9,000 shares during the period. Oppenheimer & Co. Inc.'s holdings in MP Materials were worth $818,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. grew its position 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 period. Quadrant Capital Group LLC lifted its stake in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after buying an additional 701 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials during the fourth quarter valued at about $40,000. IMG Wealth Management Inc. acquired a new position in shares of MP Materials during the fourth quarter valued at about $66,000. Finally, CX Institutional bought a new stake in shares of MP Materials during the first quarter worth about $79,000. Institutional investors own 52.55% of the company's stock.

MP Materials Stock Down 8.7%

MP stock opened at $32.85 on Monday. The stock has a market cap of $5.37 billion, a P/E ratio of -50.54 and a beta of 2.14. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. The stock's fifty day simple moving average is $25.70 and its two-hundred day simple moving average is $23.57. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $39.10.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MP. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Robert W. Baird lifted their target price on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.44.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares of the company's stock, valued at $369,454,498.08. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.60% of the company's stock.

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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