17,909 Shares in MP Materials Corp. (NYSE:MP) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 17,909 shares of the company’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its holdings in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 1,199 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares during the last quarter. CX Institutional acquired a new stake in MP Materials during the first quarter worth about $79,000. CENTRAL TRUST Co grew its position in MP Materials by 20.6% during the first quarter. CENTRAL TRUST Co now owns 3,965 shares of the company’s stock worth $97,000 after buying an additional 678 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in MP Materials during the fourth quarter valued at approximately $86,000. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Up 3.0%

Shares of MP opened at $60.33 on Friday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $62.87. The firm’s 50 day moving average is $30.28 and its 200-day moving average is $25.77. The stock has a market capitalization of $9.86 billion, a PE ratio of -92.82 and a beta of 2.26. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The company had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. Equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MP. Canaccord Genuity Group boosted their target price on MP Materials from $27.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday. Jefferies Financial Group restated a “hold” rating and issued a $33.00 price objective (up previously from $32.00) on shares of MP Materials in a research report on Monday, July 7th. BMO Capital Markets boosted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

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.