New York State Teachers Retirement System Has $2.07 Million Stock Position in MP Materials Corp. (NYSE:MP)

New York State Teachers Retirement System lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,280 shares of the company’s stock after buying an additional 6,910 shares during the period. New York State Teachers Retirement System owned about 0.06% of MP Materials worth $2,070,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MP. Fifth Third Bancorp increased its holdings in 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 in the last quarter. Sunbelt Securities Inc. increased its holdings in MP Materials by 3,848.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after purchasing an additional 1,924 shares in the last quarter. Elkhorn Partners Limited Partnership increased its holdings in MP Materials by 33.9% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after purchasing an additional 475 shares in the last quarter. First Manhattan Co. increased its holdings in MP Materials by 66.7% in the 4th quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,000 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its holdings in MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock worth $70,000 after purchasing an additional 1,855 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

MP has been the subject of a number of recent research reports. Morgan Stanley cut MP Materials from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Jefferies Financial Group decreased their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Canaccord Genuity Group decreased their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. JPMorgan Chase & Co. decreased their price target on MP Materials from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.19.

MP Materials Stock Down 0.9 %

Shares of MP Materials stock opened at $16.35 on Wednesday. MP Materials Corp. has a one year low of $12.68 and a one year high of $28.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The stock’s 50-day moving average is $15.28 and its 200 day moving average is $16.45. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 125.77 and a beta of 2.42.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). MP Materials had a return on equity of 3.86% and a net margin of 9.59%. The company had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. Equities research analysts anticipate that MP Materials Corp. will post -0.13 EPS for the current 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.