Deutsche Bank AG Lowers Holdings in MP Materials Corp. $MP

Deutsche Bank AG trimmed its holdings in MP Materials Corp. (NYSE:MP) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,168 shares of the company’s stock after selling 514 shares during the quarter. Deutsche Bank AG’s holdings in MP Materials were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in MP Materials by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,093,057 shares of the company’s stock valued at $26,682,000 after purchasing an additional 13,389 shares during the last quarter. Vanguard Group Inc. boosted its holdings in MP Materials by 7.4% in the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock valued at $333,503,000 after purchasing an additional 942,105 shares during the last quarter. Encompass More Asset Management purchased a new stake in MP Materials in the first quarter valued at $225,000. Haven Private LLC raised its position in shares of MP Materials by 6.2% in the first quarter. Haven Private LLC now owns 13,230 shares of the company’s stock worth $323,000 after acquiring an additional 775 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of MP Materials by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 15,320 shares of the company’s stock worth $374,000 after acquiring an additional 2,609 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Trading Down 3.1%

Shares of MP Materials stock opened at $71.19 on Friday. MP Materials Corp. has a 1 year low of $12.39 and a 1 year high of $82.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The company has a market capitalization of $12.61 billion, a P/E ratio of -113.00 and a beta of 2.30. The company’s fifty day moving average is $56.95 and its two-hundred day moving average is $35.80.

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

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MP has been the subject of several research analyst reports. Cowen restated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Robert W. Baird upped their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Canaccord Genuity Group upped their price target on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Jefferies Financial Group upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Friday, August 1st. Finally, Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.63.

MP Materials Company 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.