BlackRock Inc. Boosts Stock Position in MP Materials Corp. (NYSE:MP)

BlackRock Inc. grew its position in MP Materials Corp. (NYSE:MP – Get Rating) by 90.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,411,158 shares of the company’s stock after purchasing an additional 3,983,440 shares during the quarter. BlackRock Inc.’s holdings in MP Materials were worth $229,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jaffetilchin Investment Partners LLC grew its position in shares of MP Materials by 1.7% during the first quarter. Jaffetilchin Investment Partners LLC now owns 17,699 shares of the company’s stock valued at $603,000 after purchasing an additional 294 shares in the last quarter. Bard Financial Services Inc. raised its holdings in shares of MP Materials by 5.0% during the 3rd quarter. Bard Financial Services Inc. now owns 7,875 shares of the company’s stock worth $215,000 after acquiring an additional 375 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of MP Materials by 60.5% in the third quarter. Byrne Asset Management LLC now owns 1,059 shares of the company’s stock valued at $29,000 after purchasing an additional 399 shares in the last quarter. Prospera Financial Services Inc increased its position in MP Materials by 1.5% in the third quarter. Prospera Financial Services Inc now owns 27,861 shares of the company’s stock worth $760,000 after purchasing an additional 409 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in MP Materials by 2.3% during the second quarter. Natixis Advisors L.P. now owns 18,810 shares of the company’s stock valued at $603,000 after purchasing an additional 416 shares in the last quarter. 62.84% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Up 0.1 %

Shares of NYSE:MP opened at $29.38 on Tuesday. The company has a quick ratio of 12.68, a current ratio of 13.27 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $31.13 and its 200 day moving average is $30.79. The stock has a market cap of $5.22 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.79 and a beta of 2.80. MP Materials Corp. has a 52-week low of $23.50 and a 52-week high of $60.19.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on shares of MP Materials from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, MP Materials has a consensus rating of “Buy” and an average target price of $47.31.

MP Materials Profile

(Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.