180 Wealth Advisors LLC Increases Holdings in MP Materials Corp. $MP

180 Wealth Advisors LLC increased its position in MP Materials Corp. (NYSE:MP) by 1.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 29,869 shares of the company’s stock after purchasing an additional 528 shares during the period. 180 Wealth Advisors LLC’s holdings in MP Materials were worth $994,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in MP. Driehaus Capital Management LLC purchased a new stake in MP Materials in the 1st quarter worth about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after acquiring an additional 1,257,282 shares during the last quarter. Vanguard Group Inc. increased its holdings in MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after acquiring an additional 942,105 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in MP Materials by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after acquiring an additional 703,042 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock worth $64,811,000 after acquiring an additional 536,522 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MP. JPMorgan Chase & Co. lifted their price objective on MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Canaccord Genuity Group lifted their target price on MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. Bank of America lifted their target price on MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Friday, August 1st. Finally, BMO Capital Markets assumed coverage on MP Materials in a report on Thursday, October 9th. They set a “market perform” rating and a $76.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.80.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.50% of the company’s stock.

MP Materials Stock Performance

Shares of MP opened at $70.68 on Friday. The company has a market cap of $12.52 billion, a PE ratio of -112.19 and a beta of 2.32. 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 50-day moving average price of $71.77 and a 200-day moving average price of $48.89. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly 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. The firm had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company’s revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.