Canton Hathaway LLC Sells 5,850 Shares of MP Materials Corp. (NYSE:MP)

Canton Hathaway LLC trimmed its stake in shares of MP Materials Corp. (NYSE:MP) by 53.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after selling 5,850 shares during the quarter. Canton Hathaway LLC’s holdings in MP Materials were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC boosted its position in shares of MP Materials by 1.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 17,699 shares of the company’s stock valued at $603,000 after acquiring an additional 294 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of MP Materials by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 77,543 shares of the company’s stock valued at $1,883,000 after acquiring an additional 320 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of MP Materials by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 76,655 shares of the company’s stock valued at $2,093,000 after acquiring an additional 359 shares during the period. Natixis Advisors L.P. boosted its position in shares of MP Materials by 2.3% in the second quarter. Natixis Advisors L.P. now owns 18,810 shares of the company’s stock valued at $603,000 after acquiring an additional 416 shares during the period. Finally, Elkhorn Partners Limited Partnership boosted its position in shares of MP Materials by 33.9% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after acquiring an additional 475 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Trading Down 2.0 %

Shares of MP Materials stock traded down $0.34 on Monday, reaching $16.50. 2,656,212 shares of the company’s stock were exchanged, compared to its average volume of 3,674,208. The company has a market capitalization of $2.94 billion, a P/E ratio of 129.55 and a beta of 2.42. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $28.25. The firm’s 50-day moving average is $15.29 and its two-hundred day moving average is $16.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MP. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Canaccord Genuity Group reduced their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Jefferies Financial Group reduced their target price on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.