Louisiana State Employees Retirement System Has $1.88 Million Position in MP Materials Corp. $MP

Louisiana State Employees Retirement System lowered its position in shares of MP Materials Corp. (NYSE:MP) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,500 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in MP Materials were worth $1,880,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in MP Materials by 2.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock valued at $412,000 after purchasing an additional 358 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after purchasing an additional 479 shares during the period. CWM LLC grew its holdings in MP Materials by 16.5% during the first quarter. CWM LLC now owns 3,566 shares of the company’s stock valued at $87,000 after purchasing an additional 505 shares during the period. AdvisorNet Financial Inc lifted its stake in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after buying an additional 506 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its stake in MP Materials by 51.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company’s stock valued at $50,000 after buying an additional 510 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $78.59 on Friday. The company’s fifty day simple moving average is $69.91 and its 200-day simple moving average is $45.11. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The firm has a market cap of $13.92 billion, a PE ratio of -124.75 and a beta of 2.32. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $84.92.

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

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. DA Davidson lifted their price target on shares of MP Materials from $32.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Cowen reaffirmed a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. Daiwa Capital Markets assumed coverage on shares of MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

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.