DekaBank Deutsche Girozentrale Acquires 60,000 Shares of MP Materials Corp. (NYSE:MP)

DekaBank Deutsche Girozentrale lifted its position in MP Materials Corp. (NYSE:MP) by 1,000.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,000 shares of the company’s stock after purchasing an additional 60,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in MP Materials were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elkhorn Partners Limited Partnership grew its stake in MP Materials by 33.9% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after acquiring an additional 475 shares in the last quarter. Sunbelt Securities Inc. grew its stake in MP Materials by 3,848.0% during the second 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in MP Materials during the first quarter valued at $118,000. Fifth Third Bancorp grew its stake in MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in MP Materials by 79.7% during the first quarter. Stonebridge Capital Advisors LLC now owns 2,075 shares of the company’s stock valued at $119,000 after acquiring an additional 920 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MP shares. Jefferies Financial Group lowered their price objective on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Canaccord Genuity Group lowered their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.19.

MP Materials Price Performance

MP Materials stock opened at $16.84 on Monday. The firm has a 50-day moving average price of $15.29 and a 200-day moving average price of $16.49. The firm has a market capitalization of $3.00 billion, a PE ratio of 129.55 and a beta of 2.41. The company has a current ratio of 10.42, a quick ratio of 9.54 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 $28.71.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. As a group, equities research analysts forecast that MP Materials Corp. will post -0.13 EPS for the current year.

MP Materials Profile

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.