Belpointe Asset Management LLC Sells 11,078 Shares of MP Materials Corp. (NYSE:MP)

Belpointe Asset Management LLC lowered its holdings in MP Materials Corp. (NYSE:MP – Get Rating) by 78.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,970 shares of the company’s stock after selling 11,078 shares during the quarter. Belpointe Asset Management LLC’s holdings in MP Materials were worth $72,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MP. BlackRock Inc. raised its holdings in shares of MP Materials by 90.0% in the 3rd quarter. BlackRock Inc. now owns 8,411,158 shares of the company’s stock valued at $229,626,000 after purchasing an additional 3,983,440 shares in the last quarter. State Street Corp raised its holdings in shares of MP Materials by 56.2% in the 1st quarter. State Street Corp now owns 4,806,550 shares of the company’s stock valued at $275,608,000 after purchasing an additional 1,729,193 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of MP Materials by 925.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company’s stock valued at $89,949,000 after purchasing an additional 1,415,700 shares in the last quarter. Invesco Ltd. raised its holdings in shares of MP Materials by 61.1% in the 1st quarter. Invesco Ltd. now owns 2,208,928 shares of the company’s stock valued at $126,661,000 after purchasing an additional 838,085 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of MP Materials by 24.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,678,304 shares of the company’s stock valued at $73,118,000 after purchasing an additional 533,571 shares in the last quarter. Institutional investors own 62.84% of the company’s stock.

MP Materials Stock Down 3.8 %

MP stock opened at $21.27 on Monday. The firm’s fifty day simple moving average is $24.81 and its 200-day simple moving average is $28.70. The company has a market capitalization of $3.78 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.13 and a beta of 2.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 13.50 and a quick ratio of 12.84. MP Materials Corp. has a 12 month low of $20.21 and a 12 month high of $42.84.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MP. TheStreet lowered shares of MP Materials from a “c-” rating to a “d+” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MP Materials from $30.00 to $26.00 in a research note on Monday, May 8th. Canaccord Genuity Group boosted their target price on shares of MP Materials from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. DA Davidson dropped their target price on shares of MP Materials from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, Morgan Stanley dropped their target price on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.33.

MP Materials Company 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.