Brinker Capital Investments LLC decreased its position in MP Materials Corp. (NYSE:MP – Get Rating) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,743 shares of the company’s stock after selling 1,183 shares during the period. Brinker Capital Investments LLC’s holdings in MP Materials were worth $237,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MP. Jaffetilchin Investment Partners LLC lifted its holdings in shares of MP Materials by 1.7% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 17,699 shares of the company’s stock worth $603,000 after acquiring an additional 294 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of MP Materials by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,655 shares of the company’s stock worth $2,093,000 after acquiring an additional 359 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of MP Materials by 36.3% in the 4th quarter. Byrne Asset Management LLC now owns 1,443 shares of the company’s stock worth $35,000 after acquiring an additional 384 shares during the last quarter. Deane Retirement Strategies Inc. lifted its holdings in shares of MP Materials by 1.3% in the 4th quarter. Deane Retirement Strategies Inc. now owns 30,448 shares of the company’s stock worth $739,000 after acquiring an additional 392 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in shares of MP Materials by 1.5% in the 3rd quarter. Prospera Financial Services Inc now owns 27,861 shares of the company’s stock worth $760,000 after acquiring an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.
Analyst Upgrades and Downgrades
MP has been the topic of a number of research reports. Northland Securities lowered shares of MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Tuesday, April 18th. Canaccord Genuity Group increased their price objective on shares of MP Materials from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Morgan Stanley dropped their price objective on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 16th. DA Davidson dropped their price objective on shares of MP Materials from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MP Materials from $30.00 to $26.00 in a research report on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.33.
MP Materials Trading Up 4.0 %
MP Materials (NYSE:MP – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $82.53 million. On average, sell-side analysts expect that MP Materials Corp. will post 0.64 earnings per share for the current fiscal 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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