41,146 Shares in MP Materials Corp. $MP Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,146 shares of the company’s stock, valued at approximately $2,305,000.

Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC increased its holdings in shares of MP Materials by 15.0% in the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after buying an additional 170 shares in the last quarter. ARS Investment Partners LLC boosted its stake in shares of MP Materials by 1.0% during the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after acquiring an additional 200 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of MP Materials by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after acquiring an additional 204 shares during the last quarter. Moneco Advisors LLC raised its position in shares of MP Materials by 1.5% during the fourth quarter. Moneco Advisors LLC now owns 14,901 shares of the company’s stock worth $753,000 after purchasing an additional 223 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of MP Materials by 3.7% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock worth $321,000 after purchasing an additional 240 shares during the period. 52.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Michael Rosenthal bought 10,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $54.30 per share, for a total transaction of $543,000.00. Following the transaction, the chief operating officer directly owned 136,622 shares in the company, valued at $7,418,574.60. This represents a 7.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.20% of the company’s stock.

MP Materials Trading Up 1.2%

NYSE:MP opened at $54.42 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. MP Materials Corp. has a fifty-two week low of $37.81 and a fifty-two week high of $100.25. The stock’s 50-day moving average is $51.39 and its two-hundred day moving average is $56.61. The stock has a market cap of $9.69 billion, a PE ratio of -160.05 and a beta of 1.94.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The firm’s revenue was up 89.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. As a group, equities research analysts forecast that MP Materials Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MP. Morgan Stanley reiterated an “overweight” rating on shares of MP Materials in a research report on Wednesday, August 19th. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Needham & Company LLC cut their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.21.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.