BNP Paribas Financial Markets Increases Position in MP Materials Corp. $MP

BNP Paribas Financial Markets boosted its holdings in shares of MP Materials Corp. (NYSE:MP) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,657,299 shares of the company’s stock after acquiring an additional 703,042 shares during the period. BNP Paribas Financial Markets owned 1.01% of MP Materials worth $40,455,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in MP Materials by 52.3% during the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock valued at $140,000 after acquiring an additional 1,975 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in MP Materials by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,093,057 shares of the company’s stock valued at $26,682,000 after acquiring an additional 13,389 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in MP Materials during the 1st quarter valued at about $213,000. LPL Financial LLC grew its stake in shares of MP Materials by 5.0% in the 1st quarter. LPL Financial LLC now owns 132,796 shares of the company’s stock valued at $3,242,000 after buying an additional 6,361 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of MP Materials in the 1st quarter valued at approximately $1,460,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MP. Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Cfra Research raised shares of MP Materials to a “moderate buy” rating in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.63.

Insider Buying and Selling at MP Materials

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

MP Materials Stock Performance

NYSE:MP opened at $71.19 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The stock has a market capitalization of $12.61 billion, a P/E ratio of -113.00 and a beta of 2.32. The company has a 50 day moving average price of $56.95 and a 200 day moving average price of $35.96. MP Materials Corp. has a fifty-two week low of $12.39 and a fifty-two week high of $82.50.

MP Materials (NYSE:MP) last posted its quarterly earnings data 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 firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm’s quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. Equities research analysts forecast that MP Materials Corp. will post -0.19 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.