Wellington Management Group LLP Has $3.70 Million Stock Holdings in MP Materials Corp. $MP

Key Points

• Wellington Management Group LLP reduced its stake in MP Materials Corp. by 32.3%, holding 151,550 shares valued at approximately $3.70 million as of the latest SEC filing.
• MP Materials reported revenue of $57.39 million for the latest quarter, significantly exceeding analysts' expectations and marking an 83.6% increase year-over-year.
• Stock ratings are generally positive, with five analysts giving MP Materials a Buy rating and an average price target of $60.63, reflecting optimism over the company's prospects.

Wellington Management Group LLP lessened its position in MP Materials Corp. (NYSE:MP - Free Report) by 32.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,550 shares of the company's stock after selling 72,271 shares during the period. Wellington Management Group LLP owned about 0.09% of MP Materials worth $3,699,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. boosted its stake in shares of MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MP Materials in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise acquired a new stake in shares of MP Materials in the 1st quarter valued at $35,000. IFP Advisors Inc lifted its position in MP Materials by 47.8% during the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock worth $76,000 after buying an additional 960 shares in the last quarter. Finally, CX Institutional acquired a new position in MP Materials during the 1st quarter worth about $79,000. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Stock Performance

MP Materials stock opened at $71.19 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 1 year low of $12.39 and a 1 year high of $82.50. The company has a market cap of $12.61 billion, a PE ratio of -113.00 and a beta of 2.30. The company's 50-day moving average is $56.95 and its two-hundred day moving average is $35.80.

MP Materials (NYSE:MP - Get Free Report) last released its 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 net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the prior year, the company posted ($0.17) EPS. The company's revenue was up 83.6% compared to the same quarter last year. Equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MP shares. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Robert W. Baird upped their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Canaccord Genuity Group upped their price target on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Finally, Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, MP Materials currently has an average rating of "Moderate Buy" and a consensus target price of $60.63.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.50% of the company's stock.

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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