MP Materials Corp. (NYSE:MP) Shares Sold by DDD Partners LLC

DDD Partners LLC decreased its position in MP Materials Corp. (NYSE:MP) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,646 shares of the company’s stock after selling 769 shares during the quarter. DDD Partners LLC’s holdings in MP Materials were worth $390,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MP. Fifth Third Bancorp lifted its holdings in shares of 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 during the last quarter. Sunbelt Securities Inc. raised its stake in MP Materials by 3,848.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock valued at $45,000 after acquiring an additional 1,924 shares in the last quarter. Elkhorn Partners Limited Partnership raised its stake in MP Materials by 33.9% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock valued at $46,000 after acquiring an additional 475 shares in the last quarter. First Manhattan Co. raised its stake in MP Materials by 66.7% during the 4th quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock valued at $61,000 after acquiring an additional 1,000 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its stake in MP Materials by 103.6% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after acquiring an additional 1,855 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of NYSE:MP opened at $14.53 on Thursday. MP Materials Corp. has a fifty-two week low of $12.68 and a fifty-two week high of $28.75. The business has a 50-day moving average of $15.39 and a two-hundred day moving average of $16.94. The stock has a market capitalization of $2.59 billion, a P/E ratio of 111.78, a P/E/G ratio of 1.34 and a beta of 2.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (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 firm had revenue of $41.21 million for the quarter, compared to analyst estimates of $47.40 million. On average, equities research analysts predict that MP Materials Corp. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MP shares. Morgan Stanley downgraded MP Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $15.50 in a research note on Wednesday, March 13th. Canaccord Genuity Group dropped their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective on MP Materials from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Friday, March 8th. Jefferies Financial Group dropped their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price objective on MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

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.