Wealthsource Partners LLC Sells 3,793 Shares of MP Materials Corp. (NYSE:MP)

Wealthsource Partners LLC trimmed its holdings in shares of MP Materials Corp. (NYSE:MPFree Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,859 shares of the company’s stock after selling 3,793 shares during the period. Wealthsource Partners LLC’s holdings in MP Materials were worth $752,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors L.P. grew its stake in shares of MP Materials by 22.9% during the 1st quarter. Natixis Advisors L.P. now owns 18,394 shares of the company’s stock worth $1,055,000 after acquiring an additional 3,430 shares during the period. Bank of Montreal Can boosted its stake in MP Materials by 18.5% in the 1st quarter. Bank of Montreal Can now owns 45,673 shares of the company’s stock worth $2,576,000 after purchasing an additional 7,124 shares during the period. MetLife Investment Management LLC boosted its stake in MP Materials by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 41,394 shares of the company’s stock worth $2,374,000 after purchasing an additional 14,406 shares during the period. Rhumbline Advisers boosted its stake in MP Materials by 8.9% in the 1st quarter. Rhumbline Advisers now owns 84,009 shares of the company’s stock worth $4,817,000 after purchasing an additional 6,843 shares during the period. Finally, BlackRock Inc. boosted its stake in MP Materials by 29.1% in the 1st quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after purchasing an additional 1,441,580 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 3.9 %

NYSE MP opened at $13.66 on Monday. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. MP Materials Corp. has a twelve month low of $12.68 and a twelve month high of $28.75. The firm has a market capitalization of $2.43 billion, a PE ratio of 105.09, a P/E/G ratio of 1.34 and a beta of 2.44. The stock’s 50 day moving average is $15.56 and its 200 day moving average is $17.07.

MP Materials (NYSE:MPGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. Research analysts forecast that MP Materials Corp. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on MP shares. Jefferies Financial Group lowered their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their price target on MP Materials from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. reduced their price target on MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley lowered MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, Canaccord Genuity Group reduced their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.44.

View Our Latest Stock Analysis 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.

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Institutional Ownership by Quarter for MP Materials (NYSE:MP)

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