Public Employees Retirement System of Ohio Has $1.26 Million Position in MP Materials Corp. $MP

Public Employees Retirement System of Ohio lowered its position in shares of MP Materials Corp. (NYSE:MP) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,745 shares of the company’s stock after selling 2,209 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in MP Materials were worth $1,256,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC acquired a new position in MP Materials during the second quarter valued at approximately $241,000. GAMMA Investing LLC boosted its holdings in shares of MP Materials by 52.3% in the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock valued at $140,000 after buying an additional 1,975 shares during the period. Strs Ohio acquired a new position in shares of MP Materials in the first quarter valued at approximately $687,000. Exchange Traded Concepts LLC acquired a new position in shares of MP Materials in the second quarter valued at approximately $7,479,000. Finally, Amundi boosted its holdings in shares of MP Materials by 561.2% in the first quarter. Amundi now owns 80,662 shares of the company’s stock valued at $2,002,000 after buying an additional 68,462 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MP. JPMorgan Chase & Co. upped their price target 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. Daiwa America upgraded shares of MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Daiwa Capital Markets initiated coverage on shares of MP Materials in a report on Monday, September 22nd. They set an “outperform” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the 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 transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.50% of the stock is owned by insiders.

MP Materials Stock Performance

NYSE MP opened at $71.37 on Friday. The firm has a market capitalization of $12.64 billion, a P/E ratio of -113.29 and a beta of 2.32. The firm’s fifty day moving average price is $68.73 and its two-hundred day moving average price is $43.46. MP Materials Corp. has a 1 year low of $15.56 and a 1 year high of $82.50. 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 issued its quarterly earnings data 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 company had revenue of $57.39 million for the quarter, compared to analyst estimates 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 was up 83.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. As a group, research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current 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.