State of New Jersey Common Pension Fund D Purchases 33,319 Shares of MP Materials Corp. (NYSE:MP)

State of New Jersey Common Pension Fund D lifted its position in MP Materials Corp. (NYSE:MP) by 27.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 156,211 shares of the company’s stock after acquiring an additional 33,319 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MP Materials were worth $3,101,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MP. GAMMA Investing LLC bought a new stake in shares of MP Materials in the 4th quarter worth $26,000. CWM LLC grew its stake in shares of MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of 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 acquiring an additional 1,134 shares in the last quarter. Nisa Investment Advisors LLC grew its position in MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after buying an additional 1,985 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its position in MP Materials by 103.6% during the third quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after buying an additional 1,855 shares during the period. Institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MP. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. JPMorgan Chase & Co. lowered shares of MP Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Canaccord Genuity Group reduced their price target on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group reduced their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Finally, Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average target price of $23.64.

MP Materials Price Performance

NYSE MP opened at $16.00 on Friday. The company has a market cap of $2.85 billion, a PE ratio of 123.09, a price-to-earnings-growth ratio of 7.62 and a beta of 2.41. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $26.53. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $15.25 and its two-hundred day simple moving average is $16.39.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. Research analysts predict that MP Materials Corp. will post 0.06 earnings per share for the current year.

MP Materials Company 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.