AlphaQ Advisors LLC Sells 725 Shares of MP Materials Corp. (NYSE:MP)

AlphaQ Advisors LLC decreased its holdings in shares of MP Materials Corp. (NYSE:MP) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,410 shares of the company’s stock after selling 725 shares during the quarter. AlphaQ Advisors LLC’s holdings in MP Materials were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MP. Vanguard Group Inc. boosted its holdings in shares of MP Materials by 25.3% during the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after acquiring an additional 2,697,925 shares during the period. State Street Corp grew its holdings in MP Materials by 56.2% in the 1st quarter. State Street Corp now owns 4,806,550 shares of the company’s stock valued at $275,608,000 after buying an additional 1,729,193 shares in the last quarter. BlackRock Inc. increased its position in MP Materials by 29.1% during the 1st quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after buying an additional 1,441,580 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of MP Materials by 925.3% during the first quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company’s stock worth $89,949,000 after buying an additional 1,415,700 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of MP Materials in the first quarter valued at about $23,876,000. Institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

MP has been the subject of several analyst reports. Jefferies Financial Group dropped their price objective on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft cut their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday. Canaccord Genuity Group lowered their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. JPMorgan Chase & Co. cut their target price on MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Morgan Stanley downgraded MP Materials from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.19.

MP Materials Price Performance

MP Materials stock traded down $0.46 during midday trading on Friday, reaching $16.84. The company’s stock had a trading volume of 3,582,470 shares, compared to its average volume of 4,292,259. 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 Corp. has a 52 week low of $12.68 and a 52 week high of $28.71. The stock has a market cap of $3.00 billion, a PE ratio of 129.55 and a beta of 2.41. The business has a 50-day moving average price of $15.29 and a 200-day moving average price of $16.53.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, sell-side analysts predict that MP Materials Corp. will post -0.13 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.