Strengthening Families & Communities LLC Has $183,000 Stock Holdings in MP Materials Corp. (NYSE:MP)

Key Points

• Strengthening Families & Communities LLC increased its stake in MP Materials Corp. by 221.3% in the 1st quarter, bringing their total holdings to 7,480 shares valued at approximately $183,000.
• MP Materials Corp. reported $57.39 million in revenue for the last quarter, exceeding estimates, with a year-over-year revenue growth of 83.6%.
• Analysts have a consensus rating of "Moderate Buy" on MP Materials, with an average price target of $60.63 and recent upgrades from firms like Jefferies and Canaccord Genuity.

Strengthening Families & Communities LLC increased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 221.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,480 shares of the company's stock after purchasing an additional 5,152 shares during the period. Strengthening Families & Communities LLC's holdings in MP Materials were worth $183,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Invesco Ltd. lifted its position in shares of MP Materials by 25.3% during 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 during the last quarter. Benjamin Edwards Inc. increased its stake in MP Materials by 68.0% during the first quarter. Benjamin Edwards Inc. now owns 93,763 shares of the company's stock valued at $2,289,000 after acquiring an additional 37,952 shares during the period. Koss Olinger Consulting LLC bought a new position in MP Materials during the first quarter valued at about $207,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in MP Materials by 46.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 426,379 shares of the company's stock valued at $10,408,000 after acquiring an additional 134,724 shares during the period. Finally, Townsquare Capital LLC bought a new position in MP Materials during the first quarter valued at about $302,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on MP shares. Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, August 1st. Canaccord Genuity Group boosted their price target on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley set a $65.00 price target on MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Cowen restated a "buy" rating on shares of MP Materials in a research note on Friday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.63.

MP Materials Price Performance

MP Materials stock opened at $74.32 on Friday. The company has a market capitalization of $12.15 billion, a PE ratio of -117.97 and a beta of 2.30. MP Materials Corp. has a one year low of $11.07 and a one year high of $79.36. The business has a 50 day simple moving average of $44.20 and a 200 day simple moving average of $30.77. 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 (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The business 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 9.25% and a negative net margin of 41.87%. MP Materials's revenue for the quarter was up 83.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. On average, sell-side analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

MP Materials 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.

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