MP Materials Corp. (NYSE:MP) Stock Position Raised by LPL Financial LLC

LPL Financial LLC lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,796 shares of the company’s stock after buying an additional 6,361 shares during the period. LPL Financial LLC owned 0.08% of MP Materials worth $3,242,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. boosted its holdings in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of MP Materials in the first quarter valued at approximately $35,000. IFP Advisors Inc boosted its holdings 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 acquiring an additional 960 shares in the last quarter. CX Institutional bought a new position in shares of MP Materials in the first quarter valued at approximately $79,000. Finally, CWM LLC boosted its holdings in shares of MP Materials by 16.5% in the first quarter. CWM LLC now owns 3,566 shares of the company’s stock valued at $87,000 after acquiring an additional 505 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Robert W. Baird raised their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Canaccord Genuity Group raised their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.63.

MP Materials Stock Performance

Shares of MP opened at $75.00 on Friday. MP Materials Corp. has a 12 month low of $11.89 and a 12 month high of $82.50. The firm has a fifty day simple moving average of $49.32 and a 200 day simple moving average of $32.63. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of -119.05 and a beta of 2.30. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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.