Skylands Capital LLC Cuts Stake in MP Materials Corp. (NYSE:MP)

Skylands Capital LLC cut its position in MP Materials Corp. (NYSE:MP) by 15.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,250 shares of the company’s stock after selling 50,600 shares during the period. Skylands Capital LLC owned approximately 0.16% of MP Materials worth $5,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in MP Materials by 50.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,219 shares of the company’s stock valued at $328,000 after acquiring an additional 5,770 shares during the period. Xponance Inc. lifted its position in MP Materials by 40.2% during the third quarter. Xponance Inc. now owns 15,848 shares of the company’s stock valued at $303,000 after purchasing an additional 4,543 shares during the period. Independent Advisor Alliance purchased a new stake in MP Materials in the third quarter worth approximately $1,197,000. Legacy Financial Group LLC bought a new stake in MP Materials in the 3rd quarter worth approximately $116,000. Finally, Bank of New York Mellon Corp raised its stake in MP Materials by 12.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company’s stock valued at $43,803,000 after buying an additional 246,534 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

MP Materials Trading Up 3.0 %

NYSE:MP traded up $0.48 during mid-day trading on Monday, hitting $16.48. 1,197,930 shares of the stock traded hands, compared to its average volume of 3,523,242. 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 stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 123.09, a PEG ratio of 7.62 and a beta of 2.42. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $26.53. The firm’s 50 day moving average is $15.25 and its two-hundred day moving average is $16.39.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business 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%. On average, equities 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.