MP Materials Corp. (NYSE:MP) Shares Acquired by Aurora Investment Counsel

Aurora Investment Counsel boosted its stake in MP Materials Corp. (NYSE:MP) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 66,153 shares of the company’s stock after acquiring an additional 1,122 shares during the quarter. Aurora Investment Counsel’s holdings in MP Materials were worth $842,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC lifted its holdings in MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after buying an additional 3,956 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in MP Materials in the 2nd quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MP Materials during the 2nd quarter worth approximately $100,000. Finally, Elkhorn Partners Limited Partnership increased its stake in MP Materials by 15.9% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company’s stock worth $114,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of MP Materials stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $10.84 per share, with a total value of $325,200.00. Following the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at $15,208,249. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America cut their price target on MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets boosted their price objective on MP Materials from $15.50 to $16.00 and gave the stock a “market perform” rating in a research note on Monday. Morgan Stanley lifted their price target on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and an average price target of $20.61.

MP Materials Stock Performance

NYSE MP opened at $17.65 on Tuesday. 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 company has a market cap of $2.92 billion, a P/E ratio of -117.67 and a beta of 2.22. The stock has a 50-day moving average of $13.31 and a two-hundred day moving average of $14.57. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $20.85.

MP Materials (NYSE:MP) last announced 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 business had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The company’s revenue for the quarter was down 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. As a group, analysts anticipate that MP Materials Corp. will post -0.47 EPS for the current year.

MP Materials announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.