IFP Advisors Inc lowered its position in shares of MP Materials Corp. (NYSE:MP – Get Rating) by 29.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,368 shares of the company’s stock after selling 9,315 shares during the period. IFP Advisors Inc’s holdings in MP Materials were worth $371,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of MP. Natixis Advisors L.P. grew its position in shares of MP Materials by 22.9% during the first quarter. Natixis Advisors L.P. now owns 18,394 shares of the company’s stock worth $1,055,000 after acquiring an additional 3,430 shares during the last quarter. Bank of Montreal Can grew its position in shares of MP Materials by 18.5% during the first quarter. Bank of Montreal Can now owns 45,673 shares of the company’s stock worth $2,576,000 after acquiring an additional 7,124 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of MP Materials by 53.4% during the first quarter. MetLife Investment Management LLC now owns 41,394 shares of the company’s stock worth $2,374,000 after acquiring an additional 14,406 shares during the last quarter. Rhumbline Advisers grew its position in shares of MP Materials by 8.9% during the first quarter. Rhumbline Advisers now owns 84,009 shares of the company’s stock worth $4,817,000 after acquiring an additional 6,843 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in MP Materials by 29.1% in the first quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after purchasing an additional 1,441,580 shares during the period. Institutional investors own 62.84% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on MP. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MP Materials from $30.00 to $26.00 in a report on Monday. DA Davidson cut their price target on shares of MP Materials from $50.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Northland Securities downgraded shares of MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Tuesday, April 18th. Canaccord Genuity Group upped their price target on shares of MP Materials from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 24th. Finally, Morgan Stanley cut their price target on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and an average target price of $40.33.
MP Materials Price Performance
MP Materials (NYSE:MP – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.28. MP Materials had a net margin of 52.72% and a return on equity of 20.61%. The company had revenue of $93.25 million during the quarter, compared to analyst estimates of $82.53 million. On average, analysts forecast that MP Materials Corp. will post 0.64 earnings per share for the current year.
MP Materials Company Profile
MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.
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