Coordinated Financial Services Inc. Takes Position in MP Materials Corp. $MP

Coordinated Financial Services Inc. bought a new stake in MP Materials Corp. (NYSE:MP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,820 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MP. NBC Securities Inc. increased its stake in shares of MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,199 shares during the period. GAMMA Investing LLC boosted its position in shares of MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock worth $140,000 after purchasing an additional 1,975 shares during the last quarter. CX Institutional bought a new position in shares of MP Materials in the 1st quarter worth $79,000. Pullen Investment Management LLC boosted its position in shares of MP Materials by 3.7% in the 1st quarter. Pullen Investment Management LLC now owns 32,185 shares of the company’s stock worth $786,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of MP Materials by 22.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,597 shares of the company’s stock worth $307,000 after purchasing an additional 2,316 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MP. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, August 1st. Cfra Research upgraded MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. Daiwa Capital Markets began coverage on MP Materials in a research report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. raised their price target on MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.50% of the stock is currently owned by company insiders.

MP Materials Stock Up 8.7%

NYSE:MP opened at $78.59 on Friday. MP Materials Corp. has a 1 year low of $15.56 and a 1 year high of $84.92. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of -124.75 and a beta of 2.32. The stock has a 50-day moving average price of $69.91 and a two-hundred day moving average price of $44.98.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The company’s revenue was up 83.6% on a year-over-year basis. As a group, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.