CENTRAL TRUST Co Has $1.63 Million Holdings in MP Materials Corp. (NYSE:MP)

CENTRAL TRUST Co raised its stake in MP Materials Corp. (NYSE:MP – Get Rating) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,557 shares of the company’s stock after acquiring an additional 951 shares during the quarter. CENTRAL TRUST Co’s holdings in MP Materials were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC boosted its stake in shares of MP Materials by 1.7% in the 1st 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 during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of MP Materials by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,655 shares of the company’s stock valued at $2,093,000 after purchasing an additional 359 shares during the last quarter. Bard Financial Services Inc. boosted its stake in shares of MP Materials by 5.0% in the 3rd quarter. Bard Financial Services Inc. now owns 7,875 shares of the company’s stock valued at $215,000 after purchasing an additional 375 shares during the last quarter. Byrne Asset Management LLC boosted its stake in shares of MP Materials by 60.5% in the 3rd 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 during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of MP Materials by 1.5% in the 3rd quarter. Prospera Financial Services Inc now owns 27,861 shares of the company’s stock valued at $760,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 62.84% of the company’s stock.

Wall Street Analyst Weigh In

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

MP Materials Stock Down 5.0 %

MP Materials stock opened at $27.73 on Thursday. The company’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $30.71. MP Materials Corp. has a fifty-two week low of $23.50 and a fifty-two week high of $60.19. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.79 and a beta of 2.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 13.27 and a quick ratio of 12.68.

About MP Materials

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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.