MP Materials Corp. (NYSE:MP) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its holdings in MP Materials Corp. (NYSE:MP) by 99.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,308 shares of the company’s stock after acquiring an additional 10,138 shares during the period. Cerity Partners LLC’s holdings in MP Materials were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of MP Materials by 52.3% during the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock valued at $140,000 after buying an additional 1,975 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of MP Materials during the 4th quarter valued at $388,000. Invesco Ltd. grew its stake in shares of MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock valued at $33,050,000 after buying an additional 7,453 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of MP Materials during the 1st quarter valued at $213,000. Finally, Sei Investments Co. purchased a new stake in shares of MP Materials during the 4th quarter valued at $156,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

NYSE:MP opened at $62.14 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. The firm has a 50-day moving average of $35.08 and a two-hundred day moving average of $27.56. The stock has a market cap of $10.16 billion, a P/E ratio of -95.60 and a beta of 2.26. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $65.05.

MP Materials (NYSE:MP) last posted its quarterly earnings data 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 firm had revenue of $60.81 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.04) earnings per share. On average, research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird raised their price objective on MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $34.00 in a research report on Thursday, June 5th. Finally, Canaccord Genuity Group raised their price objective on MP Materials from $27.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

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.