Vanguard Group Inc. Increases Stock Holdings in MP Materials Corp. (NYSE:MP)

Vanguard Group Inc. lifted its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,662,567 shares of the company's stock after acquiring an additional 942,105 shares during the period. Vanguard Group Inc. owned 8.36% of MP Materials worth $333,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after buying an additional 662 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MP Materials in the fourth quarter valued at about $6,284,000. Sterling Capital Management LLC boosted its holdings in MP Materials by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 7,852 shares of the company's stock valued at $122,000 after purchasing an additional 2,858 shares during the last quarter. Barclays PLC lifted its holdings in MP Materials by 150.2% during the 4th quarter. Barclays PLC now owns 121,392 shares of the company's stock worth $1,895,000 after buying an additional 72,868 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in MP Materials during the 4th quarter worth approximately $5,330,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MP. Robert W. Baird lifted their target price on MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Canaccord Genuity Group boosted their target price on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Cfra Research upgraded MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Price Performance

NYSE:MP opened at $75.00 on Friday. MP Materials Corp. has a 52-week low of $11.89 and a 52-week high of $82.50. 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 company has a market cap of $12.26 billion, a P/E ratio of -119.05 and a beta of 2.30. The stock's 50-day simple moving average is $49.32 and its 200 day simple moving average is $32.63.

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 analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%. The company had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The business's revenue was up 83.6% on a year-over-year basis. As a group, 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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