MRP Capital Investments LLC Acquires 5,425 Shares of MP Materials Corp. (NYSE:MP)

MRP Capital Investments LLC lifted its holdings in MP Materials Corp. (NYSE:MP) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,675 shares of the company’s stock after purchasing an additional 5,425 shares during the quarter. MRP Capital Investments LLC’s holdings in MP Materials were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TFO Wealth Partners LLC lifted its holdings in shares of MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares during the period. Nisa Investment Advisors LLC lifted its holdings in MP Materials by 3,803.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after acquiring an additional 3,956 shares during the period. Elkhorn Partners Limited Partnership boosted its position in MP Materials by 15.9% in the first quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company’s stock worth $114,000 after purchasing an additional 1,100 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of MP Materials during the 2nd quarter valued at about $118,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of MP Materials during the 2nd quarter valued at about $124,000. 52.55% of the stock is owned by institutional investors.

MP Materials Trading Down 0.6 %

MP Materials stock opened at $14.12 on Thursday. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $21.13. The firm’s 50 day moving average price is $13.15 and its 200-day moving average price is $14.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The stock has a market cap of $2.33 billion, a P/E ratio of -94.13 and a beta of 2.22.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). The firm had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s revenue for the quarter was down 51.2% on a year-over-year basis. On average, equities analysts predict that MP Materials Corp. will post -0.44 earnings per share for the current fiscal year.

MP Materials declared that its board has approved a stock buyback program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal bought 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the transaction, the chief operating officer now owns 1,402,975 shares of the company’s stock, valued at $15,208,249. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MP. Robert W. Baird reduced their target price on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 15th. BMO Capital Markets assumed coverage on MP Materials in a report on Monday, July 15th. They issued a “market perform” rating and a $16.50 target price on the stock. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of MP Materials in a report on Friday, August 2nd. Canaccord Genuity Group decreased their price objective on MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

MP Materials Company 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.