Sycomore Asset Management decreased its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 88.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,134 shares of the company's stock after selling 310,968 shares during the period. Sycomore Asset Management's holdings in MP Materials were worth $847,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company's stock worth $33,000 after acquiring an additional 766 shares in the last quarter. Mirador Capital Partners LP grew its holdings in MP Materials by 5.3% during the 4th quarter. Mirador Capital Partners LP now owns 17,142 shares of the company's stock worth $340,000 after acquiring an additional 863 shares in the last quarter. CENTRAL TRUST Co grew its holdings in 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 acquiring an additional 892 shares in the last quarter. Victory Capital Management Inc. grew its holdings in 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 acquiring an additional 1,119 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company's stock valued at $40,000 after buying an additional 1,134 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.
MP Materials Price Performance
Shares of MP stock traded down $0.12 during midday trading on Wednesday, reaching $15.74. 2,316,922 shares of the company were exchanged, compared to its average volume of 3,591,042. MP Materials Corp. has a 12 month low of $12.68 and a 12 month high of $26.53. The company has a market cap of $2.80 billion, a P/E ratio of 121.09 and a beta of 2.41. The company's 50 day moving average price is $15.27 and its two-hundred day moving average price is $16.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42.
MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The company had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. On average, sell-side analysts expect that MP Materials Corp. will post -0.13 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on MP shares. JPMorgan Chase & Co. lowered shares of MP Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $16.00 in a report on Tuesday. Jefferies Financial Group decreased their price target on shares of MP Materials from $36.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, March 19th. Morgan Stanley lowered shares of MP Materials from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Canaccord Genuity Group decreased their price target on shares of MP Materials from $23.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average price target of $23.64.
Read Our Latest Research Report on MP
About MP Materials
(
Free Report)
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.
Further Reading
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