Northwestern Mutual Wealth Management Co. Has $1.33 Million Stock Position in MP Materials Corp. (NYSE:MP)

Northwestern Mutual Wealth Management Co. increased its holdings in shares of MP Materials Corp. (NYSE:MP) by 58.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,477 shares of the company’s stock after purchasing an additional 38,377 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.06% of MP Materials worth $1,330,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of MP Materials by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock valued at $198,216,000 after purchasing an additional 225,554 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of MP Materials by 2.8% during the 2nd quarter. Baillie Gifford & Co. now owns 2,819,743 shares of the company’s stock worth $35,895,000 after acquiring an additional 76,288 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of MP Materials by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after acquiring an additional 71,454 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MP Materials by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,733,517 shares of the company’s stock valued at $22,068,000 after purchasing an additional 26,119 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of MP Materials by 2,536.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock worth $23,767,000 after purchasing an additional 1,598,861 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Activity

In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $10.84 per share, for a total transaction of $325,200.00. Following the completion of the transaction, the chief operating officer now owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 12.60% of the stock is owned by company insiders.

MP Materials Price Performance

MP Materials stock opened at $17.38 on Friday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -115.87 and a beta of 2.23. The stock’s 50 day moving average is $13.58 and its 200-day moving average is $14.66. The company has a current ratio of 6.90, a quick ratio of 6.17 and a debt-to-equity ratio of 0.84. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $20.85.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative return on equity of 4.28% and a negative net margin of 21.94%. The firm had revenue of $31.26 million for the quarter, compared to the consensus estimate of $40.03 million. During the same quarter in the previous year, the business earned $0.07 EPS. The firm’s quarterly revenue was down 51.2% on a year-over-year basis. Equities research analysts expect that MP Materials Corp. will post -0.47 EPS for the current year.

MP Materials announced that its board has authorized a stock repurchase plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson lifted their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets upped their target price on MP Materials from $15.50 to $16.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Robert W. Baird raised their price target on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and a consensus price target of $20.85.

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.