Sei Investments Co. Increases Position in MP Materials Corp. $MP

Key Points

• Sei Investments Co. increased its stake in MP Materials Corp. by 155.5% in the first quarter, now owning 25,631 shares valued at $575,000.
• MP Materials posted a revenue of $57.39 million for the quarter, surpassing analyst expectations and reflecting an 83.6% year-over-year growth.
• Analysts have raised price targets for MP Materials, with Deutsche Bank setting a target of $69.00 and Canaccord Genuity aiming for $77.00, indicating a consensus rating of "Moderate Buy."

Sei Investments Co. boosted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 155.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,631 shares of the company's stock after buying an additional 15,601 shares during the quarter. Sei Investments Co.'s holdings in MP Materials were worth $575,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after acquiring an additional 2,005,505 shares during the period. BNP Paribas Financial Markets bought a new stake in MP Materials during the 4th quarter valued at approximately $14,886,000. Vanguard Group Inc. boosted its position in shares of MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after purchasing an additional 942,105 shares in the last quarter. Invesco Ltd. boosted its position in shares of MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock worth $64,811,000 after purchasing an additional 536,522 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of MP Materials in the 4th quarter worth approximately $6,284,000. Institutional investors own 52.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a report on Thursday, July 31st. Cfra Research upgraded MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, August 1st. Robert W. Baird lifted their price target on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, MP Materials has a consensus rating of "Moderate Buy" and an average price target of $60.63.

MP Materials Stock Down 4.7%

Shares of NYSE:MP traded down $3.3760 during trading hours on Tuesday, reaching $68.8340. The stock had a trading volume of 9,676,411 shares, compared to its average volume of 9,275,855. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The firm's 50 day moving average is $50.21 and its 200-day moving average is $33.06. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of -109.00 and a beta of 2.30. MP Materials Corp. has a 1 year low of $12.21 and a 1 year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period last year, the firm posted ($0.17) EPS. MP Materials's revenue for the quarter was up 83.6% on a year-over-year basis. Research analysts predict 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.