Townsquare Capital LLC Invests $302,000 in MP Materials Corp. $MP

Key Points

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Townsquare Capital LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 12,356 shares of the company's stock, valued at approximately $302,000.

Several other large investors have also recently bought and sold shares of MP. Price T Rowe Associates Inc. MD raised its stake in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after purchasing an additional 2,005,505 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in MP Materials during the 4th quarter valued at $14,886,000. Vanguard Group Inc. raised its stake in MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after purchasing an additional 942,105 shares during the last quarter. Raymond James Financial Inc. acquired a new position in MP Materials during the 4th quarter valued at $6,284,000. Finally, Two Sigma Advisers LP acquired a new position in MP Materials during the 4th quarter valued at $5,524,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Price Performance

Shares of MP traded down $0.3160 during trading hours on Friday, hitting $67.9640. The stock had a trading volume of 10,358,610 shares, compared to its average volume of 13,025,305. The company's fifty day moving average is $53.43 and its two-hundred day moving average is $34.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. MP Materials Corp. has a 52 week low of $12.31 and a 52 week high of $82.50. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of -107.88 and a beta of 2.30.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share 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 business had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm's quarterly revenue was up 83.6% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Canaccord Genuity Group boosted their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a report on Friday, August 8th. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.63.

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.