GAMMA Investing LLC Takes Position in MP Materials Corp. (NYSE:MP)

GAMMA Investing LLC acquired a new position in MP Materials Corp. (NYSE:MP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,304 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its holdings in shares of MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after acquiring an additional 766 shares during the period. Fifth Third Bancorp increased its position in MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after acquiring an additional 1,134 shares during the period. Nisa Investment Advisors LLC raised its stake 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 in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after purchasing an additional 1,855 shares during the period. Finally, Mendota Financial Group LLC raised its stake in shares of MP Materials by 46.8% during the fourth quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock valued at $75,000 after purchasing an additional 1,207 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MP has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Canaccord Genuity Group lowered their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Jefferies Financial Group reduced their price objective 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. Benchmark restated a “buy” rating and set a $30.00 target price on shares of MP Materials in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.64.

MP Materials Price Performance

MP opened at $16.20 on Wednesday. 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 1 year low of $12.68 and a 1 year high of $26.53. The stock has a fifty day moving average price of $15.28 and a 200 day moving average price of $16.31. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -107.99, a PEG ratio of 7.34 and a beta of 2.31.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. Analysts forecast that MP Materials Corp. will post 0.06 EPS for the current fiscal year.

MP Materials 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.