Skylands Capital LLC Acquires 12,750 Shares of MP Materials Corp. $MP

Skylands Capital LLC increased its holdings in MP Materials Corp. (NYSE:MP) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,245 shares of the company’s stock after purchasing an additional 12,750 shares during the quarter. Skylands Capital LLC’s holdings in MP Materials were worth $5,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MP. Toth Financial Advisory Corp lifted its stake in MP Materials by 73.3% in the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Wedmont Private Capital grew its stake in shares of MP Materials by 2.0% during the third quarter. Wedmont Private Capital now owns 11,866 shares of the company’s stock valued at $547,000 after buying an additional 234 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake 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 valued at $321,000 after buying an additional 240 shares during the last quarter. Allworth Financial LP grew its stake in shares of MP Materials by 4.5% during the second quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock valued at $318,000 after buying an additional 243 shares during the last quarter. Finally, NFSG Corp increased its holdings in shares of MP Materials by 5.0% in the first quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Trading Up 1.2%

Shares of MP opened at $39.51 on Thursday. The stock has a market capitalization of $7.04 billion, a P/E ratio of -116.21 and a beta of 1.98. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $50.33 and a two-hundred day simple moving average of $54.41. MP Materials Corp. has a twelve month low of $37.81 and a twelve month high of $76.80.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company’s revenue for the quarter was up 89.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) earnings per share. On average, research analysts anticipate that MP Materials Corp. will post -0.20 EPS for the current year.

Analyst Ratings Changes

MP has been the topic of several analyst reports. Robert W. Baird decreased their price objective on MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Barclays dropped their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Freedom Broker began coverage on MP Materials in a research report on Wednesday, September 16th. They set a “hold” rating and a $57.00 price target on the stock. Zacks Research cut MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.92.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.