Swiss National Bank Sells 6,800 Shares of MP Materials Corp. $MP

Swiss National Bank decreased its position in MP Materials Corp. (NYSE:MP) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 237,100 shares of the company’s stock after selling 6,800 shares during the quarter. Swiss National Bank owned approximately 0.15% of MP Materials worth $5,788,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. lifted its position in shares of MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of MP Materials during the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise purchased a new position in shares of MP Materials during the 1st quarter valued at about $35,000. IFP Advisors Inc lifted its position in shares of MP Materials by 47.8% during the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company’s stock valued at $76,000 after buying an additional 960 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of MP Materials during the 1st quarter valued at about $79,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 4.0%

Shares of MP stock opened at $72.00 on Tuesday. The stock has a 50 day moving average of $50.21 and a 200 day moving average of $33.06. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock has a market cap of $12.75 billion, a P/E ratio of -114.29 and a beta of 2.30. MP Materials Corp. has a twelve month low of $11.95 and a twelve month high of $82.50.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating 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 company had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. During the same period last year, the company earned ($0.17) earnings per share. MP Materials’s quarterly revenue was up 83.6% compared to the same quarter last year. As a group, sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted 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. Cowen reaffirmed a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Canaccord Genuity Group upped their target price on MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, August 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.63.

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.