MP Materials Corp. $MP Position Trimmed by Walser Wealth Management Company A Ltd Liability Co

Walser Wealth Management Company A Ltd Liability Co lowered its position in MP Materials Corp. (NYSE:MP) by 46.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,040 shares of the company’s stock after selling 12,826 shares during the period. Walser Wealth Management Company A Ltd Liability Co’s holdings in MP Materials were worth $711,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MP. Bank of New York Mellon Corp bought a new stake in shares of MP Materials in the 2nd quarter worth about $65,230,000. State Street Corp boosted its stake in shares of MP Materials by 5.1% during the 2nd quarter. State Street Corp now owns 7,773,746 shares of the company’s stock worth $435,408,000 after purchasing an additional 376,519 shares during the period. Amundi grew its holdings in MP Materials by 260.2% during the 1st quarter. Amundi now owns 385,001 shares of the company’s stock valued at $18,580,000 after purchasing an additional 278,126 shares during the last quarter. Principal Financial Group Inc. grew its holdings in MP Materials by 32.4% during the 1st quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock valued at $44,355,000 after purchasing an additional 225,009 shares during the last quarter. Finally, Teamwork Financial Advisors LLC bought a new position in MP Materials during the 2nd quarter valued at about $10,648,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $41.65 on Friday. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $51.47 and its two-hundred day moving average is $54.66. MP Materials Corp. has a 52 week low of $37.81 and a 52 week high of $91.99. The company has a market capitalization of $7.42 billion, a PE ratio of -122.51 and a beta of 1.98.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The business had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. During the same period last year, the company earned ($0.13) earnings per share. The business’s revenue for the quarter was up 89.0% compared to the same quarter last year. As a group, analysts expect that MP Materials Corp. will post -0.20 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Zacks Research lowered MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Barclays dropped their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. cut their target price on MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.92.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.