MP Materials Corp. (NYSE:MP) Stake Raised by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. raised its holdings in shares of MP Materials Corp. (NYSE:MP) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,315 shares of the company’s stock after acquiring an additional 31,355 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.10% of MP Materials worth $3,540,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in MP Materials by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock valued at $3,581,000 after acquiring an additional 723 shares during the last quarter. CWM LLC raised its holdings in MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after buying an additional 766 shares in the last quarter. Mirador Capital Partners LP lifted its position in shares of MP Materials by 5.3% in the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock worth $340,000 after buying an additional 863 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of MP Materials by 1.7% during the 3rd quarter. CENTRAL TRUST Co now owns 52,093 shares of the company’s stock worth $995,000 after acquiring an additional 892 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of MP Materials by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 22,538 shares of the company’s stock valued at $430,000 after acquiring an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered MP Materials from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $16.00 in a report on Tuesday, April 23rd. Jefferies Financial Group reduced their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Morgan Stanley downgraded shares of MP Materials from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group lowered their price target 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.64.

MP Materials Trading Down 2.6 %

Shares of NYSE MP traded down $0.42 during midday trading on Tuesday, reaching $16.00. 3,039,245 shares of the stock were exchanged, compared to its average volume of 3,533,839. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 126.31, a P/E/G ratio of 7.62 and a beta of 2.42. MP Materials Corp. has a 12 month low of $12.68 and a 12 month high of $26.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The business has a 50-day simple moving average of $15.24 and a two-hundred day simple moving average of $16.38.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The firm had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. As a group, equities research analysts expect that MP Materials Corp. will post 0.06 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.