Vanguard Group Inc. Purchases 2,697,925 Shares of MP Materials Corp. (NYSE:MP)

Vanguard Group Inc. lifted its position in shares of MP Materials Corp. (NYSE:MPFree Report) by 25.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,380,831 shares of the company’s stock after purchasing an additional 2,697,925 shares during the period. Vanguard Group Inc. owned 7.52% of MP Materials worth $255,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MP. Fifth Third Bancorp boosted its position in MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after purchasing an additional 1,134 shares during the period. Sunbelt Securities Inc. raised its holdings in MP Materials by 3,848.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock valued at $45,000 after acquiring an additional 1,924 shares during the period. Elkhorn Partners Limited Partnership lifted its position in MP Materials by 33.9% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after acquiring an additional 475 shares during the last quarter. First Manhattan Co. boosted its holdings in shares of MP Materials by 66.7% during the fourth quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,000 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock worth $70,000 after acquiring an additional 1,855 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Performance

MP Materials stock opened at $14.30 on Friday. The stock has a market cap of $2.55 billion, a PE ratio of 110.01 and a beta of 2.44. 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 12-month low of $12.68 and a 12-month high of $28.75. The business’s 50-day moving average price is $15.33 and its two-hundred day moving average price is $16.87.

MP Materials (NYSE:MPGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The business had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. As a group, analysts expect that MP Materials Corp. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Get Our Latest Research Report on MP Materials

MP Materials Company Profile

(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.

See Also

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

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