Baillie Gifford & Co. Has $58.76 Million Holdings in MP Materials Corp. (NYSE:MP)

Baillie Gifford & Co. raised its position in MP Materials Corp. (NYSE:MP - Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,960,001 shares of the company's stock after purchasing an additional 614,088 shares during the period. Baillie Gifford & Co. owned 1.66% of MP Materials worth $58,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in MP Materials by 25.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company's stock valued at $255,574,000 after purchasing an additional 2,697,925 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of MP Materials in the 3rd quarter worth $1,996,000. Van ECK Associates Corp increased its stake in shares of MP Materials by 20.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company's stock worth $51,770,000 after acquiring an additional 452,501 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of MP Materials in the 3rd quarter worth $1,197,000. Finally, ANTIPODES PARTNERS Ltd increased its stake in shares of MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company's stock worth $70,000 after acquiring an additional 1,855 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Canaccord Genuity Group cut their target price on MP Materials from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft raised their price objective on MP Materials from $14.00 to $17.00 and gave the stock a "hold" rating in a research report on Friday, March 8th. JPMorgan Chase & Co. dropped their target price on MP Materials from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. Morgan Stanley downgraded MP Materials from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their target price on MP Materials from $36.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.44.

MP Materials Stock Down 0.2 %

Shares of MP traded down $0.03 during midday trading on Wednesday, hitting $17.41. The company had a trading volume of 6,079,688 shares, compared to its average volume of 3,681,886. The company's 50-day simple moving average is $15.27 and its 200-day simple moving average is $16.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The firm has a market capitalization of $3.10 billion, a P/E ratio of 133.93 and a beta of 2.41. MP Materials Corp. has a 1 year low of $12.68 and a 1 year high of $28.71.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $41.21 million during the quarter, compared to analysts' expectations of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. As a group, sell-side analysts expect that MP Materials Corp. will post -0.13 EPS for the current 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.