Ameritas Advisory Services LLC Makes New Investment in MP Materials Corp. $MP

Ameritas Advisory Services LLC acquired a new position in MP Materials Corp. (NYSE:MP) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,166 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of MP Materials by 7.4% in 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. Invesco Ltd. raised its position in shares of MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock valued at $64,811,000 after purchasing an additional 536,522 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of MP Materials by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock valued at $40,455,000 after purchasing an additional 703,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock valued at $37,839,000 after purchasing an additional 1,257,282 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of MP Materials in the 1st quarter valued at approximately $34,288,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, 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 can be accessed through this link. Insiders own 9.50% of the company’s stock.

MP Materials Price Performance

Shares of NYSE MP opened at $70.57 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $82.50. The business’s fifty day moving average price is $69.40 and its two-hundred day moving average price is $44.31. The firm has a market capitalization of $12.50 billion, a PE ratio of -112.02 and a beta of 2.32.

MP Materials (NYSE:MP) last released 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. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The business had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $44.84 million. During the same quarter last year, the company earned ($0.17) EPS. The company’s revenue for the quarter was up 83.6% compared to the same quarter last year. On average, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on MP. JPMorgan Chase & Co. increased their price objective 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. Benchmark restated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Morgan Stanley set a $69.00 price objective on MP Materials in a research note on Wednesday. Finally, Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.78.

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.