MP Materials Corp. (NYSE:MP) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,391 shares of the company’s stock after acquiring an additional 723 shares during the quarter. Retirement Systems of Alabama owned about 0.10% of MP Materials worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D grew its position in MP Materials by 27.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 156,211 shares of the company’s stock valued at $3,101,000 after acquiring an additional 33,319 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in MP Materials by 4.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 133,718 shares of the company’s stock worth $2,654,000 after buying an additional 6,145 shares during the period. GAMMA Investing LLC acquired a new position in MP Materials in the 4th quarter worth $26,000. Telemus Capital LLC boosted its position in MP Materials by 9.2% in the 4th quarter. Telemus Capital LLC now owns 15,037 shares of the company’s stock valued at $298,000 after buying an additional 1,262 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of MP Materials by 12.2% during the fourth quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $528,000 after acquiring an additional 2,900 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Performance

Shares of MP opened at $16.20 on Wednesday. MP Materials Corp. has a 12-month low of $12.68 and a 12-month high of $26.53. The stock has a market capitalization of $2.88 billion, a P/E ratio of -107.99, a P/E/G ratio of 7.34 and a beta of 2.31. The firm’s 50 day moving average is $15.28 and its 200-day moving average is $16.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 10.29 and a quick ratio of 9.28.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The business had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. Equities research analysts anticipate that MP Materials Corp. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.