Private Advisor Group LLC Sells 143,262 Shares of MP Materials Corp. (NYSE:MP)

Private Advisor Group LLC lowered its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 57.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,329 shares of the company's stock after selling 143,262 shares during the period. Private Advisor Group LLC owned about 0.06% of MP Materials worth $2,571,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. raised its holdings in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in MP Materials in the 1st quarter worth $35,000. Quadrant Capital Group LLC raised its holdings in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after purchasing an additional 701 shares in the last quarter. CX Institutional bought a new position in MP Materials in the 1st quarter worth $79,000. Finally, Resona Asset Management Co. Ltd. bought a new position in MP Materials in the 4th quarter worth $86,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird increased 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. Deutsche Bank Aktiengesellschaft increased 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. JPMorgan Chase & Co. increased 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. Jefferies Financial Group reiterated a "hold" rating and issued a $33.00 price target (up from $32.00) on shares of MP Materials in a research note on Monday, July 7th. Finally, Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.11.

MP Materials Stock Performance

NYSE MP traded up $0.58 on Friday, reaching $62.14. 10,014,818 shares of the stock were exchanged, compared to its average volume of 22,690,384. MP Materials Corp. has a one year low of $10.02 and a one year high of $65.05. The firm has a market capitalization of $10.16 billion, a PE ratio of -95.60 and a beta of 2.26. The company's 50-day simple moving average is $35.08 and its two-hundred day simple moving average is $27.62. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The company's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. Analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

MP Materials Company 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.