Segall Bryant & Hamill LLC Sells 63,271 Shares of MP Materials Corp. (NYSE:MP)

Segall Bryant & Hamill LLC reduced its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,173,014 shares of the company's stock after selling 63,271 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.72% of MP Materials worth $28,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its position in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,199 shares during the period. Quadrant Capital Group LLC increased its position in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after buying an additional 701 shares during the period. CX Institutional acquired a new stake in shares of MP Materials during the first quarter worth $79,000. CWM LLC increased its position in shares of MP Materials by 16.5% during the first quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after buying an additional 505 shares during the period. Finally, CENTRAL TRUST Co increased its position in shares of MP Materials by 20.6% during the first quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after buying an additional 678 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Canaccord Genuity Group increased their price objective on shares of MP Materials from $27.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. BMO Capital Markets increased their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. Finally, Robert W. Baird raised their price target on shares of MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average price target of $37.56.

MP Materials Stock Up 4.7%

NYSE:MP traded up $2.84 during trading hours on Friday, reaching $63.10. The company had a trading volume of 28,945,220 shares, compared to its average volume of 6,035,204. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of -97.08 and a beta of 2.26. The business's 50-day simple moving average is $31.11 and its two-hundred day simple moving average is $26.09. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $64.51.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $64.74 million. During the same period last year, the business posted ($0.04) earnings per share. The firm's quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current 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.