Federated Hermes Inc. Sells 369,386 Shares of MP Materials Corp. (NYSE:MP)

Federated Hermes Inc. cut its stake in MP Materials Corp. (NYSE:MP - Free Report) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 668,222 shares of the company's stock after selling 369,386 shares during the quarter. Federated Hermes Inc. owned approximately 0.38% of MP Materials worth $13,264,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Mirador Capital Partners LP lifted its holdings in MP Materials by 5.3% in the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company's stock valued at $340,000 after acquiring an additional 863 shares during the period. CENTRAL TRUST Co raised its stake in shares of MP Materials by 1.7% during the 3rd quarter. CENTRAL TRUST Co now owns 52,093 shares of the company's stock worth $995,000 after buying an additional 892 shares during the period. Victory Capital Management Inc. raised its stake in shares of MP Materials by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 22,538 shares of the company's stock worth $430,000 after buying an additional 1,119 shares during the period. Fifth Third Bancorp raised its stake in shares of MP Materials by 120.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company's stock worth $40,000 after buying an additional 1,134 shares during the period. Finally, Mendota Financial Group LLC raised its stake in shares of MP Materials by 46.8% during the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company's stock worth $75,000 after buying an additional 1,207 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MP shares. Deutsche Bank Aktiengesellschaft reduced their target price on MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 11th. Canaccord Genuity Group reduced 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. Morgan Stanley cut MP Materials from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut MP Materials from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Tuesday. Finally, Jefferies Financial Group dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.64.

MP Materials Trading Down 0.4 %

NYSE:MP traded down $0.06 during trading hours on Tuesday, hitting $15.86. The company had a trading volume of 2,732,143 shares, compared to its average volume of 3,607,260. The company has a market cap of $2.82 billion, a P/E ratio of 122.01 and a beta of 2.42. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50. MP Materials Corp. has a 1 year low of $12.68 and a 1 year high of $26.53. The company has a 50-day moving average of $15.27 and a 200 day moving average of $16.41.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates 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%. Sell-side analysts expect that MP Materials Corp. will post -0.13 earnings per share for the current 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.