Mirae Asset Global Investments Co. Ltd. Decreases Stake in MP Materials Corp. (NYSE:MP)

Mirae Asset Global Investments Co. Ltd. lowered its position in MP Materials Corp. (NYSE:MP) by 31.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,854 shares of the company’s stock after selling 7,645 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MP Materials were worth $335,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after purchasing an additional 1,134 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock worth $70,000 after purchasing an additional 1,855 shares during the period. Mendota Financial Group LLC boosted its stake in MP Materials by 46.8% in the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock worth $75,000 after purchasing an additional 1,207 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in MP Materials by 34.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,742 shares of the company’s stock worth $94,000 after purchasing an additional 1,227 shares during the period. Finally, Legacy Financial Group LLC bought a new position in MP Materials in the 3rd quarter worth about $116,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

NYSE:MP opened at $16.00 on Friday. The business has a 50 day moving average of $15.25 and a 200 day moving average of $16.39. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 123.09, a PEG ratio of 7.64 and a beta of 2.41. 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.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, sell-side analysts predict that MP Materials Corp. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MP. Deutsche Bank Aktiengesellschaft cut their target price 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 report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. 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 report on Tuesday, March 19th. Finally, Morgan Stanley downgraded MP Materials from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $26.00 to $15.50 in a research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

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.