Pekin Hardy Strauss Inc. Increases Position in MP Materials Corp. (NYSE:MP)

Pekin Hardy Strauss Inc. lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 21.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 178,315 shares of the company’s stock after acquiring an additional 31,355 shares during the period. Pekin Hardy Strauss Inc.’s holdings in MP Materials were worth $3,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in MP Materials in the fourth quarter worth about $26,000. CWM LLC raised its holdings in shares of MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of MP Materials by 2,335.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock worth $41,000 after purchasing an additional 1,985 shares during the period. Fifth Third Bancorp lifted its stake in 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 purchasing an additional 1,134 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its holdings in MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after purchasing an additional 1,855 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

MP Materials Price Performance

Shares of NYSE:MP traded down $0.42 on Tuesday, hitting $16.00. The company’s stock had a trading volume of 3,039,245 shares, compared to its average volume of 3,533,839. MP Materials Corp. has a 1 year low of $12.68 and a 1 year high of $26.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The company has a market capitalization of $2.85 billion, a PE ratio of 126.31, a PEG ratio of 7.62 and a beta of 2.42. The company has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $16.38.

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

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.