MP Materials Corp. (NYSE:MP) Shares Purchased by Oakworth Capital Inc.

Oakworth Capital Inc. increased its position in shares of MP Materials Corp. (NYSE:MP) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,992 shares of the company’s stock after acquiring an additional 2,954 shares during the quarter. Oakworth Capital Inc.’s holdings in MP Materials were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Elkhorn Partners Limited Partnership increased its stake in MP Materials by 33.9% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after purchasing an additional 475 shares during the period. Sunbelt Securities Inc. increased its stake in shares of MP Materials by 3,848.0% during the second quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after buying an additional 1,924 shares during the period. Point72 Hong Kong Ltd purchased a new stake in MP Materials during the 1st quarter worth about $118,000. Nisa Investment Advisors LLC increased its position in MP Materials by 2,335.3% during 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 in the last quarter. Finally, Fifth Third Bancorp boosted its stake in MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock worth $40,000 after buying an additional 1,134 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MP Materials Stock Performance

MP traded up $0.46 during trading on Wednesday, reaching $16.81. 2,144,413 shares of the company were exchanged, compared to its average volume of 3,646,973. 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 Corp. has a 52 week low of $12.68 and a 52 week high of $27.77. The firm has a 50 day moving average of $15.28 and a 200 day moving average of $16.45. The stock has a market cap of $2.99 billion, a P/E ratio of 125.78 and a beta of 2.41.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share 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 return on equity of 3.86% and a net margin of 9.59%. On average, sell-side analysts forecast that MP Materials Corp. will post -0.13 EPS for the current fiscal year.

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.