Vanguard Personalized Indexing Management LLC Takes $365,000 Position in MP Materials Corp. (NYSE:MP)

Vanguard Personalized Indexing Management LLC bought a new position in shares of MP Materials Corp. (NYSE:MP) during the 4th quarter, HoldingsChannel reports. The firm bought 18,404 shares of the company’s stock, valued at approximately $365,000.

Several other hedge funds also recently added to or reduced their stakes in MP. Vanguard Group Inc. raised its holdings in shares of MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after buying an additional 2,697,925 shares during the last quarter. Van ECK Associates Corp raised its stake in MP Materials by 15.2% in the 4th quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after acquiring an additional 411,771 shares during the last quarter. Baillie Gifford & Co. lifted its position in MP Materials by 26.2% during the 4th quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after acquiring an additional 614,088 shares during the period. Dimensional Fund Advisors LP grew its stake in MP Materials by 59.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after purchasing an additional 860,960 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of MP Materials by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,198,351 shares of the company’s stock valued at $23,787,000 after purchasing an additional 23,722 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Up 1.5 %

MP opened at $17.14 on Monday. The company has a fifty day moving average of $15.92 and a two-hundred day moving average of $16.37. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -114.26 and a beta of 2.31. MP Materials Corp. has a fifty-two week low of $12.68 and a fifty-two week high of $26.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. On average, research analysts expect that MP Materials Corp. will post -0.17 earnings per share for the current year.

Insider Transactions at MP Materials

In related news, Director Andrew A. Mcknight sold 317,750 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered MP Materials from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Canaccord Genuity Group decreased their target price 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. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of MP Materials in a research report on Tuesday, May 14th. Finally, Jefferies Financial Group reduced their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.64.

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.