Great Valley Advisor Group Inc. Acquires 12,176 Shares of MP Materials Corp. (NYSE:MP)

Great Valley Advisor Group Inc. grew its holdings in MP Materials Corp. (NYSE:MP) by 25.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,624 shares of the company’s stock after purchasing an additional 12,176 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in MP Materials were worth $1,203,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MP. State of Alaska Department of Revenue boosted its stake in shares of MP Materials by 50.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,219 shares of the company’s stock valued at $328,000 after purchasing an additional 5,770 shares during the last quarter. Xponance Inc. boosted its stake in shares of MP Materials by 40.2% in the 3rd quarter. Xponance Inc. now owns 15,848 shares of the company’s stock valued at $303,000 after purchasing an additional 4,543 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of MP Materials in the 3rd quarter valued at about $1,197,000. Bank of New York Mellon Corp boosted its stake in shares of MP Materials by 12.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company’s stock valued at $43,803,000 after purchasing an additional 246,534 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of MP Materials by 80.1% in the 3rd quarter. Brown Advisory Inc. now owns 107,475 shares of the company’s stock valued at $2,053,000 after purchasing an additional 47,800 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $15.40 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 9.54 and a current ratio of 10.42. The company has a market capitalization of $2.74 billion, a P/E ratio of -102.66, a price-to-earnings-growth ratio of 7.60 and a beta of 2.31. The company’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $16.35. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $26.53.

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 1.62% and a negative return on equity of 0.58%. The firm had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. On average, analysts expect that MP Materials Corp. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MP has been the topic of a number of analyst reports. Jefferies Financial Group cut 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 target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of MP Materials in a research report on Friday. Canaccord Genuity Group cut their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. downgraded shares of MP Materials from an “overweight” rating to a “neutral” rating and cut their price target for the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

About MP Materials

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.