Commonwealth Equity Services LLC Buys 2,694 Shares of MP Materials Corp. (NYSE:MP)

Commonwealth Equity Services LLC raised its holdings in shares of MP Materials Corp. (NYSE:MP – Get Rating) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 51,116 shares of the company’s stock after buying an additional 2,694 shares during the period. Commonwealth Equity Services LLC’s holdings in MP Materials were worth $1,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new stake in shares of MP Materials during the 3rd quarter valued at $26,000. James Investment Research Inc. purchased a new position in shares of MP Materials in the 4th quarter worth about $26,000. Byrne Asset Management LLC raised its stake in MP Materials by 36.3% in the 4th quarter. Byrne Asset Management LLC now owns 1,443 shares of the company’s stock valued at $35,000 after acquiring an additional 384 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of MP Materials by 169.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the company’s stock valued at $40,000 after purchasing an additional 927 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in shares of MP Materials in the fourth quarter valued at approximately $50,000. 62.84% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of MP Materials stock opened at $21.27 on Friday. MP Materials Corp. has a 52-week low of $20.21 and a 52-week high of $42.84. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 2.13 and a beta of 2.69. The company has a fifty day moving average of $24.81 and a 200-day moving average of $28.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 12.84 and a current ratio of 13.50.

MP Materials (NYSE:MP – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.28. The business had revenue of $93.25 million during the quarter, compared to analysts’ expectations of $82.53 million. MP Materials had a net margin of 52.72% and a return on equity of 20.17%. Equities research analysts expect that MP Materials Corp. will post 0.64 EPS for the current year.

Analyst Upgrades and Downgrades

MP has been the topic of several research reports. Northland Securities lowered shares of MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Tuesday, April 18th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MP Materials from $30.00 to $26.00 in a research report on Monday, May 8th. TheStreet cut shares of MP Materials from a “c-” rating to a “d+” rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on shares of MP Materials from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Finally, Morgan Stanley cut their price target on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

MP Materials Profile

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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.