MP Materials Corp. (NYSE:MP) Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of MP Materials Corp. (NYSE:MP) by 20.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,320 shares of the company’s stock after purchasing an additional 2,609 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MP Materials were worth $374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. increased its stake in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of MP Materials during the first quarter worth approximately $35,000. Banque Cantonale Vaudoise acquired a new position in shares of MP Materials in the first quarter valued at $35,000. IFP Advisors Inc raised its stake in shares of MP Materials by 47.8% in the first quarter. IFP Advisors Inc now owns 2,970 shares of the company’s stock valued at $76,000 after purchasing an additional 960 shares in the last quarter. Finally, CX Institutional acquired a new position in MP Materials during the first quarter worth $79,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Price Performance

Shares of NYSE MP opened at $75.00 on Friday. The stock has a market capitalization of $12.26 billion, a PE ratio of -119.05 and a beta of 2.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The business has a fifty day moving average price of $49.32 and a two-hundred day moving average price of $32.55. MP Materials Corp. has a fifty-two week low of $11.89 and a fifty-two week high of $82.50.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%. The business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. During the same period in the prior year, the company earned ($0.17) EPS. MP Materials’s revenue for the quarter was up 83.6% on a year-over-year basis. As a group, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on MP. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, August 1st. Cfra Research raised MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. JPMorgan Chase & Co. lifted their target price on MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft boosted their price target on MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley set a $65.00 target price on MP Materials and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.63.

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.