RPg Family Wealth Advisory LLC Invests $2.43 Million in MP Materials Corp. $MP

Key Points

• RPg Family Wealth Advisory LLC has acquired 99,589 shares of MP Materials Corp., investing approximately $2.43 million in the company during the first quarter.
• Several analysts have recently upgraded MP Materials, with target prices ranging from $64.00 to $80.00, reflecting a consensus rating of "Moderate Buy."
• MP Materials reported a revenue of $57.39 million for the latest quarter, significantly exceeding analyst estimates and marking an 83.6% increase compared to the previous year.

RPg Family Wealth Advisory LLC purchased a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 99,589 shares of the company's stock, valued at approximately $2,431,000. RPg Family Wealth Advisory LLC owned 0.06% of MP Materials at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Jump Financial LLC purchased a new position in shares of MP Materials during the 1st quarter worth $962,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of MP Materials by 6.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 195,032 shares of the company's stock worth $4,761,000 after purchasing an additional 11,783 shares during the period. Sprott Inc. grew its holdings in shares of MP Materials by 11.6% during 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 acquired a new position in MP Materials during the 1st quarter worth about $2,693,000. Finally, Northern Trust Corp lifted its stake in MP Materials by 6.6% during the 1st quarter. Northern Trust Corp now owns 1,043,127 shares of the company's stock worth $25,463,000 after acquiring an additional 64,843 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MP. Cfra Research raised MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, August 1st. Canaccord Genuity Group increased their target price on MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Morgan Stanley set a $65.00 target price on MP Materials and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Price Performance

MP stock opened at $67.9640 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The firm has a market capitalization of $12.04 billion, a P/E ratio of -107.88 and a beta of 2.30. The business's 50-day moving average is $53.43 and its two-hundred day moving average is $34.24. MP Materials Corp. has a 1 year low of $12.31 and a 1 year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.MP Materials's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. Analysts anticipate that MP Materials Corp. will post -0.19 earnings per share 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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