Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in MP Materials Corp. (NYSE:MP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in MP Materials Corp. (NYSE:MP) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,549 shares of the company’s stock after purchasing an additional 7,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MP Materials were worth $1,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MP. Fifth Third Bancorp grew its stake in MP Materials by 120.6% in 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after acquiring an additional 1,985 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in MP Materials by 103.6% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after acquiring an additional 1,855 shares in the last quarter. Mendota Financial Group LLC boosted its position in MP Materials by 46.8% during the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock valued at $75,000 after acquiring an additional 1,207 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in MP Materials by 34.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,742 shares of the company’s stock valued at $94,000 after acquiring an additional 1,227 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

MP has been the topic of several recent research reports. JPMorgan Chase & Co. cut 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. Deutsche Bank Aktiengesellschaft dropped their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Canaccord Genuity Group dropped their target price 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. Morgan Stanley cut MP Materials from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group decreased their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.64.

MP Materials Stock Performance

Shares of MP opened at $15.86 on Wednesday. MP Materials Corp. has a 12 month low of $12.68 and a 12 month high of $26.53. The stock has a fifty day moving average price of $15.27 and a 200-day moving average price of $16.41. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.82 billion, a PE ratio of 122.01 and a beta of 2.42.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $41.21 million during 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%. Equities research analysts predict that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

About MP Materials

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.