Coordinated Financial Services Inc. Takes Position in MP Materials Corp. $MP

Coordinated Financial Services Inc. bought a new position in shares of MP Materials Corp. (NYSE:MP) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,820 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also bought and sold shares of MP. Driehaus Capital Management LLC bought a new stake in MP Materials during the first quarter worth about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MP Materials by 429.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after acquiring an additional 1,257,282 shares in the last quarter. Vanguard Group Inc. raised its holdings in MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after acquiring an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in MP Materials by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after acquiring an additional 703,042 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in MP Materials by 25.3% during the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock worth $64,811,000 after acquiring an additional 536,522 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MP shares. DA Davidson upped their target price on MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday. Morgan Stanley set a $69.00 price target on MP Materials in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Daiwa America raised MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $74.00.

MP Materials Price Performance

Shares of NYSE MP opened at $78.59 on Friday. The firm has a market cap of $13.92 billion, a P/E ratio of -124.75 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $84.92. The business’s 50 day moving average is $69.91 and its 200-day moving average is $44.98.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $57.39 million for 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%.The firm’s quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share. Equities research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.50% of the company’s stock.

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.