MP Materials Corp. (NYSE:MP) Shares Purchased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. boosted its position in MP Materials Corp. (NYSE:MP) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,297 shares of the company’s stock after acquiring an additional 5,249 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in MP Materials were worth $1,035,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in MP Materials by 1.7% during the first quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock worth $198,216,000 after purchasing an additional 225,554 shares in the last quarter. Van ECK Associates Corp raised its holdings in MP Materials by 15.2% during the fourth quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after purchasing an additional 411,771 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock worth $45,956,000 after purchasing an additional 860,960 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MP Materials by 2,536.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock valued at $23,767,000 after acquiring an additional 1,598,861 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of MP Materials by 9.5% in the 4th quarter. First Trust Advisors LP now owns 1,454,589 shares of the company’s stock valued at $28,874,000 after acquiring an additional 126,611 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of NYSE:MP traded up $0.13 during midday trading on Wednesday, hitting $11.57. 1,266,873 shares of the stock were exchanged, compared to its average volume of 3,308,146. The stock has a market cap of $1.91 billion, a P/E ratio of -76.27 and a beta of 2.22. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $22.81. The company has a 50 day moving average price of $13.52 and a 200-day moving average price of $15.02.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.13%. The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same period in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was down 51.2% compared to the same quarter last year. On average, research analysts forecast that MP Materials Corp. will post -0.34 earnings per share for the current year.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $10.84 per share, with a total value of $325,200.00. Following the purchase, the chief operating officer now directly owns 1,402,975 shares in the company, valued at approximately $15,208,249. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Ryan Corbett sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael Stuart Rosenthal acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $10.84 per share, with a total value of $325,200.00. Following the purchase, the chief operating officer now owns 1,402,975 shares in the company, valued at $15,208,249. The disclosure for this purchase can be found here. 12.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of MP Materials in a report on Monday, July 15th. They issued a “market perform” rating and a $16.50 target price on the stock. Robert W. Baird lowered their price objective on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Bank of America lowered their price objective on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of MP Materials in a research report on Friday, August 2nd. Finally, Morgan Stanley lowered their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.22.

MP Materials Company 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.