National Bank of Canada FI lessened its stake in shares of MP Materials Corp. (NYSE:MP – Free Report) by 42.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,371 shares of the company’s stock after selling 7,505 shares during the period. National Bank of Canada FI’s holdings in MP Materials were worth $253,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its holdings in shares of MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MP Materials in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise acquired a new stake in shares of MP Materials in the 1st quarter valued at $35,000. IFP Advisors Inc boosted its holdings in shares of MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company’s stock valued at $76,000 after purchasing an additional 960 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of MP Materials in the 1st quarter valued at $79,000. Institutional investors own 52.55% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Cfra Research raised MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft raised their target price on MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. raised their target price on MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Cowen reissued a “buy” rating on shares of MP Materials in a report on Friday, August 8th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and an average target price of $60.63.
MP Materials Trading Down 2.1%
NYSE MP opened at $75.00 on Monday. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a twelve month low of $11.89 and a twelve month high of $82.50. The company has a market cap of $13.28 billion, a price-to-earnings ratio of -119.05 and a beta of 2.30. The business’s fifty day moving average is $49.32 and its 200 day moving average is $32.71.
MP Materials (NYSE:MP – Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%. MP Materials’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same period last year, the company earned ($0.17) EPS. As a group, sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.
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.
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