Sumitomo Mitsui Trust Holdings Inc. Sells 1,500 Shares of MP Materials Corp. (NYSE:MP)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in MP Materials Corp. (NYSE:MP) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,801 shares of the company’s stock after selling 1,500 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in MP Materials were worth $790,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after purchasing an additional 1,134 shares during the period. Nisa Investment Advisors LLC raised its holdings in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after acquiring an additional 1,985 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in MP Materials by 103.6% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after acquiring an additional 1,855 shares during the period. Mendota Financial Group LLC raised its holdings in MP Materials by 46.8% during the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock valued at $75,000 after acquiring an additional 1,207 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in MP Materials by 34.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,742 shares of the company’s stock valued at $94,000 after acquiring an additional 1,227 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 1.9 %

Shares of NYSE:MP opened at $16.04 on Friday. MP Materials Corp. has a 52-week low of $12.68 and a 52-week high of $26.53. The firm has a fifty day moving average of $15.26 and a 200 day moving average of $16.41. The firm has a market capitalization of $2.86 billion, a PE ratio of 123.35, a price-to-earnings-growth ratio of 5.46 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (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 company had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. As a group, research analysts anticipate that MP Materials Corp. will post 0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of MP Materials from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $16.00 in a report on Tuesday. Canaccord Genuity Group reduced their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Finally, 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 research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.64.

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.