Voleon Capital Management LP Invests $219,000 in MP Materials Corp. $MP

Key Points

• Voleon Capital Management LP has invested approximately $219,000 in MP Materials Corp. by acquiring 8,975 shares in the 1st quarter.
• Institutional investors hold 52.55% of MP Materials, with significant stake increases from firms like Vanguard Group, which raised its position by 7.4% to own over $333 million in shares.
• Analysts have raised their price targets for MP Materials significantly, with DA Davidson increasing theirs from $32 to $82, reflecting a strong market outlook for the company.

Voleon Capital Management LP acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,975 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MP. Driehaus Capital Management LLC bought a new stake in MP Materials in the 1st quarter valued at about $34,288,000. Vanguard Group Inc. increased its position in MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after buying an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets increased its position in MP Materials by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company's stock valued at $40,455,000 after buying an additional 703,042 shares in the last quarter. Invesco Ltd. increased its position in MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock valued at $64,811,000 after buying an additional 536,522 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in MP Materials in the 4th quarter valued at about $5,524,000. 52.55% of the stock is owned by institutional investors.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on MP shares. DA Davidson boosted their target price on MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Benchmark reiterated a "buy" rating on shares of MP Materials in a research note on Friday, August 29th. Canaccord Genuity Group lifted 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, August 8th. Finally, Cowen reiterated a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, MP Materials presently has an average rating of "Moderate Buy" and an average target price of $66.88.

MP Materials Price Performance

MP stock opened at $63.23 on Wednesday. The company has a market capitalization of $11.20 billion, a P/E ratio of -100.37 and a beta of 2.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. MP Materials Corp. has a 52-week low of $13.20 and a 52-week high of $82.50. The business has a 50-day simple moving average of $61.30 and a two-hundred day simple moving average of $37.91.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results 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. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. During the same quarter in the previous year, the business earned ($0.17) EPS. The company's quarterly revenue was up 83.6% on a year-over-year basis. Research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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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