Sapient Capital LLC Purchases New Position in MP Materials Corp. (NYSE:MP)

Sapient Capital LLC purchased a new position in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 121,941 shares of the company’s stock, valued at approximately $2,421,000.

Several other institutional investors also recently modified their holdings of MP. Fifth Third Bancorp increased its position in shares of MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after buying an additional 1,134 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of MP Materials by 3,848.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock valued at $45,000 after purchasing an additional 1,924 shares in the last quarter. Elkhorn Partners Limited Partnership lifted its holdings in shares of MP Materials by 33.9% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after purchasing an additional 475 shares in the last quarter. Finally, First Manhattan Co. lifted its holdings in shares of MP Materials by 66.7% during the 4th quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock valued at $61,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Down 0.6 %

Shares of NYSE:MP traded down $0.11 during trading on Friday, hitting $17.19. 689,684 shares of the company were exchanged, compared to its average volume of 3,650,210. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 132.93 and a beta of 2.41. MP Materials Corp. has a fifty-two week low of $12.68 and a fifty-two week high of $28.71. The firm has a fifty day moving average price of $15.29 and a two-hundred day moving average price of $16.55. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. As a group, research analysts anticipate that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group cut their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Morgan Stanley cut MP Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft cut their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.19.

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.