DekaBank Deutsche Girozentrale Increases Holdings in MP Materials Corp. (NYSE:MP)

DekaBank Deutsche Girozentrale raised its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 1,000.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,000 shares of the company's stock after acquiring an additional 60,000 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in MP Materials were worth $1,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 2,697,925 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in MP Materials during the third quarter worth approximately $1,996,000. Van ECK Associates Corp boosted its position in MP Materials by 20.0% during the third quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company's stock worth $51,770,000 after purchasing an additional 452,501 shares during the period. Independent Advisor Alliance bought a new stake in MP Materials during the third quarter worth approximately $1,197,000. Finally, ANTIPODES PARTNERS Ltd boosted its position in MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company's stock worth $70,000 after purchasing an additional 1,855 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Stock Performance

Shares of NYSE MP traded down $0.33 during trading hours on Monday, reaching $16.51. The stock had a trading volume of 2,656,391 shares, compared to its average volume of 3,678,817. The business's fifty day moving average is $15.29 and its two-hundred day moving average is $16.49. MP Materials Corp. has a twelve month low of $12.68 and a twelve month high of $28.25. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 129.55 and a beta of 2.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). The firm had revenue of $41.21 million for 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, research analysts expect that MP Materials Corp. will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MP. Jefferies Financial Group decreased 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. Canaccord Genuity Group cut their price target on MP Materials from $23.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. cut their price target on MP Materials from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft cut their price target on MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday. Finally, Morgan Stanley lowered MP Materials from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.19.

About MP Materials

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.