Charles Schwab Investment Management Inc. Increases Stake in MP Materials Corp. $MP

Charles Schwab Investment Management Inc. raised its stake in shares of MP Materials Corp. (NYSE:MP) by 1.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,093,057 shares of the company’s stock after acquiring an additional 13,389 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.67% of MP Materials worth $26,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock valued at $333,503,000 after acquiring an additional 942,105 shares during the period. Encompass More Asset Management bought a new position in MP Materials during the 1st quarter valued at about $225,000. Haven Private LLC lifted its stake in MP Materials by 6.2% during the 1st quarter. Haven Private LLC now owns 13,230 shares of the company’s stock valued at $323,000 after acquiring an additional 775 shares during the period. PNC Financial Services Group Inc. lifted its stake in MP Materials by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,320 shares of the company’s stock valued at $374,000 after acquiring an additional 2,609 shares during the period. Finally, US Bancorp DE lifted its stake in MP Materials by 9.5% during the 1st quarter. US Bancorp DE now owns 10,198 shares of the company’s stock valued at $249,000 after acquiring an additional 885 shares during the period. Institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

MP has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Friday, August 1st. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Cowen reissued a “buy” rating on shares of MP Materials in a report on Friday, August 8th. JPMorgan Chase & Co. upped their target price on shares of MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.63.

MP Materials Price Performance

NYSE MP opened at $68.1470 on Thursday. MP Materials Corp. has a 12 month low of $12.31 and a 12 month high of $82.50. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of -108.17 and a beta of 2.30. The company’s 50 day moving average is $51.89 and its two-hundred day moving average is $33.55. 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 released its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $44.84 million. During the same quarter last year, the business earned ($0.17) EPS. The firm’s revenue was up 83.6% compared to the same quarter last year. As a group, research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.