Pekin Hardy Strauss Inc. lessened its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 15.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 200,036 shares of the company's stock after selling 35,364 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.12% of MP Materials worth $4,883,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in MP Materials in the 4th quarter worth about $6,284,000. Proficio Capital Partners LLC bought a new stake in MP Materials in the 4th quarter worth approximately $399,000. KLP Kapitalforvaltning AS bought a new stake in MP Materials in the 4th quarter worth approximately $388,000. GAMMA Investing LLC lifted its position in MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock worth $140,000 after buying an additional 1,975 shares during the last quarter. Finally, Invesco Ltd. increased its stake in MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after purchasing an additional 7,453 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.
MP Materials Stock Performance
Shares of MP Materials stock traded down $0.96 during trading on Wednesday, hitting $30.23. 3,936,653 shares of the company's stock traded hands, compared to its average volume of 6,419,123. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $39.10. The stock has a market capitalization of $4.94 billion, a P/E ratio of -46.53 and a beta of 2.26. The business has a 50-day simple moving average of $26.78 and a 200-day simple moving average of $24.22.
MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. During the same period last year, the business earned ($0.04) earnings per share. The company's quarterly revenue was up 24.9% on a year-over-year basis. As a group, analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Robert W. Baird boosted their target price on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $33.00 target price (up from $32.00) on shares of MP Materials in a research note on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.06.
View Our Latest Stock Report on MP
Insiders Place Their Bets
In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.60% of the company's stock.
MP Materials Company Profile
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Free Report)
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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