MP Materials Corp. (NYSE:MP) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its position in shares of MP Materials Corp. (NYSE:MP) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 104,133 shares of the company’s stock after selling 637 shares during the period. Flputnam Investment Management Co.’s holdings in MP Materials were worth $2,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its holdings in MP Materials by 120.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,074 shares of the company’s stock valued at $40,000 after purchasing an additional 1,134 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,985 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of MP Materials by 3,848.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after acquiring an additional 1,924 shares during the period. Elkhorn Partners Limited Partnership raised its holdings in shares of MP Materials by 33.9% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after acquiring an additional 475 shares during the period. Finally, First Manhattan Co. raised its holdings in shares of MP Materials by 66.7% during the 4th quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

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

MP Materials Stock Performance

NYSE MP opened at $16.35 on Wednesday. The company has a market cap of $2.91 billion, a P/E ratio of 125.78 and a beta of 2.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The stock has a 50-day moving average of $15.28 and a two-hundred day moving average of $16.45. MP Materials Corp. has a 1-year low of $12.68 and a 1-year high of $28.25.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $41.21 million during the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. As a group, analysts anticipate that MP Materials Corp. will post -0.13 EPS for the current 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.