UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 1,257,282 Shares of MP Materials Corp. $MP

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 429.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,550,124 shares of the company's stock after purchasing an additional 1,257,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.95% of MP Materials worth $37,839,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. grew its holdings in 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 purchasing an additional 1,199 shares during the period. MAI Capital Management lifted its position in MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after acquiring an additional 800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MP Materials during the first quarter worth approximately $35,000. Banque Cantonale Vaudoise acquired a new stake in MP Materials during the first quarter worth approximately $35,000. Finally, IFP Advisors Inc lifted its position in MP Materials by 47.8% during the first quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock worth $76,000 after acquiring an additional 960 shares during the last quarter. Institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

MP has been the subject of several research reports. Cowen restated a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, August 1st. Cfra Research upgraded shares of MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $66.88.

MP Materials Stock Performance

Shares of NYSE:MP opened at $65.99 on Tuesday. The company's 50 day simple moving average is $63.86 and its 200 day simple moving average is $39.12. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of -104.75 and a beta of 2.32. 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 1 year low of $13.45 and a 1 year high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm's quarterly revenue was up 83.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.60% of the stock is owned by company insiders.

MP Materials Company 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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