Mirador Capital Partners LP Purchases 2,212 Shares of MP Materials Corp. (NYSE:MP)

Mirador Capital Partners LP raised its holdings in shares of MP Materials Corp. (NYSE:MP) by 12.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,354 shares of the company’s stock after purchasing an additional 2,212 shares during the quarter. Mirador Capital Partners LP’s holdings in MP Materials were worth $277,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MP. Retirement Systems of Alabama increased its position in shares of MP Materials by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock worth $3,581,000 after acquiring an additional 723 shares in the last quarter. CWM LLC raised its stake in shares of MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of MP Materials by 1.0% in the fourth quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock valued at $1,675,000 after purchasing an additional 798 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of MP Materials by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,212 shares of the company’s stock valued at $1,473,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Mendota Financial Group LLC boosted its position in shares of MP Materials by 46.8% during the fourth quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock valued at $75,000 after buying an additional 1,207 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MP shares. Bank of America dropped their price objective on MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $16.00 in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of MP Materials in a research report on Tuesday, May 14th. Finally, Canaccord Genuity Group cut their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Insider Transactions at MP Materials

In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares in the company, valued at $1,554,020. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

MP Materials Price Performance

MP Materials stock opened at $12.81 on Tuesday. 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 business’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $16.06. MP Materials Corp. has a 12 month low of $12.09 and a 12 month high of $26.53. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -85.40 and a beta of 2.28.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The firm had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. Sell-side analysts forecast that MP Materials Corp. will post -0.28 EPS for the current year.

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.