Van ECK Associates Corp Raises Stock Position in MP Materials Corp. (NYSE:MP)

Van ECK Associates Corp lifted its holdings in MP Materials Corp. (NYSE:MP) by 15.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,122,224 shares of the company’s stock after purchasing an additional 411,771 shares during the period. Van ECK Associates Corp owned approximately 1.76% of MP Materials worth $61,976,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of MP Materials in the 4th quarter valued at about $26,000. CWM LLC raised its holdings in shares of MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock worth $41,000 after purchasing an additional 1,985 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of MP Materials by 120.6% during the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after purchasing an additional 1,134 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its holdings in MP Materials by 103.6% in the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after buying an additional 1,855 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Jefferies Financial Group lowered their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Canaccord Genuity Group cut their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered shares of 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 research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

MP Materials Stock Performance

NYSE:MP traded down $0.55 during trading hours on Tuesday, reaching $15.87. 925,847 shares of the company’s stock were exchanged, compared to its average volume of 3,507,584. MP Materials Corp. has a 1-year low of $12.68 and a 1-year high of $26.53. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 126.31, a P/E/G ratio of 7.62 and a beta of 2.42. The company has a 50-day moving average of $15.24 and a 200 day moving average of $16.38.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. Research analysts anticipate 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.