Bfsg LLC Trims Position in MP Materials Corp. (NYSE:MP)

Bfsg LLC decreased its stake in shares of MP Materials Corp. (NYSE:MP) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 119,293 shares of the company’s stock after selling 4,715 shares during the quarter. Bfsg LLC’s holdings in MP Materials were worth $2,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI boosted its holdings in shares of MP Materials by 17.8% in the 3rd quarter. National Bank of Canada FI now owns 149,050 shares of the company’s stock valued at $2,759,000 after buying an additional 22,521 shares during the period. AE Wealth Management LLC increased its position in shares of MP Materials by 7.0% in the third quarter. AE Wealth Management LLC now owns 143,969 shares of the company’s stock worth $2,750,000 after acquiring an additional 9,480 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of MP Materials by 50.4% in the third quarter. State of Alaska Department of Revenue now owns 17,219 shares of the company’s stock worth $328,000 after acquiring an additional 5,770 shares in the last quarter. DDD Partners LLC increased its position in shares of MP Materials by 126.7% in the third quarter. DDD Partners LLC now owns 20,415 shares of the company’s stock worth $390,000 after acquiring an additional 11,410 shares in the last quarter. Finally, Xponance Inc. grew its position in MP Materials by 40.2% during the third quarter. Xponance Inc. now owns 15,848 shares of the company’s stock valued at $303,000 after purchasing an additional 4,543 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MP. Morgan Stanley downgraded 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 report on Wednesday, March 13th. Canaccord Genuity Group cut their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lowered shares of MP Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $16.00 in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

MP Materials Stock Performance

MP Materials stock traded down $0.05 during mid-day trading on Thursday, hitting $15.69. 481,032 shares of the company’s stock traded hands, compared to its average volume of 3,551,829. The firm has a 50 day simple moving average of $15.27 and a two-hundred day simple moving average of $16.41. MP Materials Corp. has a fifty-two week low of $12.68 and a fifty-two week high of $26.53. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 121.09, a P/E/G ratio of 5.46 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 (NYSE:MP) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, research analysts expect that MP Materials Corp. will post 0.09 EPS 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.