State of New Jersey Common Pension Fund D Has $3.10 Million Position in MP Materials Corp. (NYSE:MP)

State of New Jersey Common Pension Fund D boosted its position in shares of MP Materials Corp. (NYSE:MP) by 27.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,211 shares of the company’s stock after purchasing an additional 33,319 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of MP Materials worth $3,101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the period. Mirador Capital Partners LP grew its holdings in MP Materials by 5.3% during the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock valued at $340,000 after purchasing an additional 863 shares during the period. CENTRAL TRUST Co grew its holdings in MP Materials by 1.7% during the third quarter. CENTRAL TRUST Co now owns 52,093 shares of the company’s stock valued at $995,000 after purchasing an additional 892 shares during the period. Victory Capital Management Inc. grew its holdings in MP Materials by 5.2% during the third quarter. Victory Capital Management Inc. now owns 22,538 shares of the company’s stock valued at $430,000 after purchasing an additional 1,119 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of MP Materials by 120.6% in the third quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after buying an additional 1,134 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP opened at $16.00 on Friday. MP Materials Corp. has a 12 month low of $12.68 and a 12 month high of $26.53. The firm has a fifty day simple moving average of $15.25 and a 200 day simple moving average of $16.39. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 123.09, a PEG ratio of 7.62 and a beta of 2.41. The company has a current ratio of 10.42, a quick ratio of 9.54 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). MP Materials had a net margin of 9.59% and a return on equity of 3.86%. The business had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. Research analysts forecast that MP Materials Corp. will post 0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MP shares. Morgan Stanley cut shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.50 in a report on Wednesday, March 13th. Canaccord Genuity Group reduced their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Jefferies Financial Group reduced their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. JPMorgan Chase & Co. cut shares of MP Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and an average target price of $23.64.

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.