XTX Topco Ltd Invests $601,000 in MP Materials Corp. (NYSE:MP)

Key Points

• XTX Topco Ltd has invested approximately $601,000 in MP Materials Corp., acquiring 24,629 shares in the first quarter.
• MP Materials' stock price has increased by 4.6%, with a market cap of $11.19 billion and a recent share price of $68.42.
• Several analysts have raised their price targets for MP Materials, with estimates ranging from $55.00 to $69.00, and the consensus rating on the stock is currently a "Hold".

XTX Topco Ltd purchased a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,629 shares of the company's stock, valued at approximately $601,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JT Stratford LLC increased its position in shares of MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after buying an additional 424 shares in the last quarter. CWM LLC raised its position in MP Materials by 16.5% during the first quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after acquiring an additional 505 shares during the period. Envestnet Asset Management Inc. lifted its holdings in MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after purchasing an additional 662 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in MP Materials by 20.6% in the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after buying an additional 678 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after purchasing an additional 701 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Up 5.3%

MP traded up $3.59 on Thursday, reaching $71.10. The company's stock had a trading volume of 15,479,872 shares, compared to its average volume of 8,999,411. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of -109.38 and a beta of 2.30. MP Materials Corp. has a fifty-two week low of $10.68 and a fifty-two week high of $72.35. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $42.13 and a two-hundred day moving average of $29.98.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The company had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The company's quarterly revenue was up 24.9% on a year-over-year basis. As a group, analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MP has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, August 1st. Canaccord Genuity Group increased their price target on shares of MP Materials from $27.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft raised their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley set a $65.00 price objective on MP Materials and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $57.88.

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.