Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in MP Materials Corp. (NYSE:MP)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in MP Materials Corp. (NYSE:MP) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,801 shares of the company’s stock after selling 1,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in MP Materials were worth $790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MP. Vanguard Group Inc. grew its stake in shares of MP Materials by 25.3% in the 3rd 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 in the last quarter. Baillie Gifford & Co. boosted its stake in shares of 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 purchasing an additional 614,088 shares during the period. Van ECK Associates Corp boosted its stake in shares of MP Materials by 20.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock worth $51,770,000 after purchasing an additional 452,501 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of MP Materials by 51.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,174,629 shares of the company’s stock worth $22,435,000 after purchasing an additional 401,071 shares during the period. Finally, Regal Partners Ltd boosted its stake in shares of MP Materials by 3,092.1% during the 3rd quarter. Regal Partners Ltd now owns 391,835 shares of the company’s stock worth $7,484,000 after purchasing an additional 379,560 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Trading Up 1.9 %

Shares of MP opened at $16.04 on Friday. MP Materials Corp. has a 1-year low of $12.68 and a 1-year high of $26.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 123.35, a PEG ratio of 5.46 and a beta of 2.41. The company has a 50-day moving average of $15.26 and a 200 day moving average of $16.41.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $47.40 million. On average, research analysts expect that MP Materials Corp. will post 0.09 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of MP Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $16.00 in a research note on Tuesday. Morgan Stanley cut shares of 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. Jefferies Financial Group dropped their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and a consensus price target 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.