BlueCrest Capital Management Ltd Purchases New Position in MP Materials Corp. $MP

BlueCrest Capital Management Ltd bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $672,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ARS Investment Partners LLC boosted its holdings in shares of MP Materials by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after purchasing an additional 200 shares during the period. Cresset Asset Management LLC raised its holdings in shares of MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after buying an additional 204 shares during the period. Toth Financial Advisory Corp lifted its stake in shares of MP Materials by 73.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the last quarter. Moneco Advisors LLC increased its stake in MP Materials by 1.5% in the fourth quarter. Moneco Advisors LLC now owns 14,901 shares of the company’s stock worth $753,000 after purchasing an additional 223 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of MP Materials by 3.7% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,643 shares of the company’s stock worth $321,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of NYSE:MP opened at $54.26 on Thursday. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of -159.58 and a beta of 1.94. The firm has a 50 day moving average of $51.36 and a 200 day moving average of $56.53. MP Materials Corp. has a 52 week low of $37.81 and a 52 week high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The company had revenue of $108.49 million for the quarter, compared to the consensus estimate of $96.89 million. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 89.0% compared to the same quarter last year. On average, sell-side analysts predict that MP Materials Corp. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on MP shares. Needham & Company LLC cut their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Monday, August 24th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of MP Materials in a research note on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.21.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.