MP Materials Corp. (NYSE:MP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in MP Materials Corp. (NYSE:MP) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,400 shares of the company’s stock after selling 12,007 shares during the period. New York State Common Retirement Fund’s holdings in MP Materials were worth $1,397,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in MP Materials by 25.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock valued at $255,574,000 after purchasing an additional 2,697,925 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after buying an additional 614,088 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of MP Materials by 20.0% during the third quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock worth $51,770,000 after buying an additional 452,501 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MP Materials by 51.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,174,629 shares of the company’s stock valued at $22,435,000 after acquiring an additional 401,071 shares during the period. Finally, Regal Partners Ltd raised its stake in MP Materials by 3,092.1% during the 3rd quarter. Regal Partners Ltd now owns 391,835 shares of the company’s stock valued at $7,484,000 after acquiring an additional 379,560 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Down 1.2 %

MP stock opened at $16.13 on Friday. The company’s 50-day moving average price is $15.32 and its 200 day moving average price is $16.30. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $26.53. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.87 billion, a P/E ratio of -107.53, a P/E/G ratio of 7.67 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) earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $47.40 million. On average, research analysts expect that MP Materials Corp. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About MP Materials

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.