New York State Teachers Retirement System Buys 6,910 Shares of MP Materials Corp. (NYSE:MP)

New York State Teachers Retirement System lifted its stake in MP Materials Corp. (NYSE:MP) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 104,280 shares of the company’s stock after purchasing an additional 6,910 shares during the period. New York State Teachers Retirement System’s holdings in MP Materials were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Natixis Advisors L.P. boosted its stake in MP Materials by 22.9% during the first quarter. Natixis Advisors L.P. now owns 18,394 shares of the company’s stock valued at $1,055,000 after buying an additional 3,430 shares during the period. Bank of Montreal Can boosted its stake in MP Materials by 18.5% during the first quarter. Bank of Montreal Can now owns 45,673 shares of the company’s stock valued at $2,576,000 after buying an additional 7,124 shares during the period. MetLife Investment Management LLC boosted its stake in MP Materials by 53.4% during the first quarter. MetLife Investment Management LLC now owns 41,394 shares of the company’s stock valued at $2,374,000 after buying an additional 14,406 shares during the period. Rhumbline Advisers boosted its stake in MP Materials by 8.9% during the first quarter. Rhumbline Advisers now owns 84,009 shares of the company’s stock valued at $4,817,000 after buying an additional 6,843 shares during the period. Finally, BlackRock Inc. boosted its stake in MP Materials by 29.1% during the first quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock valued at $366,898,000 after buying an additional 1,441,580 shares during the period. 52.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MP shares. JPMorgan Chase & Co. dropped their price objective on MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Canaccord Genuity Group dropped their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Morgan Stanley lowered 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 research note on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their price target 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus price target of $25.19.

MP Materials Stock Down 0.9 %

MP opened at $16.35 on Wednesday. The company has a market cap of $2.91 billion, a P/E ratio of 125.77 and a beta of 2.42. The business’s 50-day moving average price is $15.28 and its 200-day moving average price is $16.45. 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 $28.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The firm had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. On average, equities analysts expect that MP Materials Corp. will post -0.13 EPS for the current year.

MP Materials Company 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.