Flputnam Investment Management Co. Cuts Stake in MP Materials Corp. (NYSE:MP)

Flputnam Investment Management Co. trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 0.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 104,133 shares of the company’s stock after selling 637 shares during the quarter. Flputnam Investment Management Co. owned about 0.06% of MP Materials worth $2,067,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MP. Vanguard Group Inc. boosted its holdings in shares of MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after buying an additional 2,697,925 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MP Materials by 1.8% in the second quarter. BlackRock Inc. now owns 8,933,628 shares of the company’s stock worth $204,401,000 after buying an additional 157,764 shares during the last quarter. State Street Corp boosted its holdings in shares of MP Materials by 3.5% in the second quarter. State Street Corp now owns 5,965,832 shares of the company’s stock worth $136,498,000 after buying an additional 200,041 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of MP Materials by 26.2% in the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after buying an additional 614,088 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of MP Materials by 20.0% in the third quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock worth $51,770,000 after buying an additional 452,501 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. JPMorgan Chase & Co. decreased their target price on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $26.00 to $15.50 in a research note on Wednesday, March 13th. Finally, Canaccord Genuity Group decreased their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.19.

MP Materials Trading Down 0.9 %

MP Materials stock opened at $16.35 on Wednesday. The stock has a market cap of $2.91 billion, a P/E ratio of 125.78 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. MP Materials Corp. has a 1 year low of $12.68 and a 1 year high of $28.25. The firm’s 50 day moving average price is $15.28 and its 200-day moving average price is $16.45.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $41.21 million for the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. On average, equities analysts predict that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

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.