Victory Capital Management Inc. Acquires New Stake in MP Materials Corp. (NYSE:MP)

Victory Capital Management Inc. acquired a new stake in MP Materials Corp. (NYSE:MP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 22,129 shares of the company’s stock, valued at approximately $713,000.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in MP Materials by 27.9% during the 3rd quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock worth $54,000 after purchasing an additional 363 shares during the period. Investors Financial Group LLC increased its holdings in MP Materials by 0.7% during the 3rd quarter. Investors Financial Group LLC now owns 49,265 shares of the company’s stock worth $1,588,000 after purchasing an additional 365 shares during the period. Janney Capital Management LLC increased its holdings in MP Materials by 2.5% during the 3rd quarter. Janney Capital Management LLC now owns 17,538 shares of the company’s stock worth $565,000 after purchasing an additional 422 shares during the period. Stifel Financial Corp increased its holdings in MP Materials by 0.8% during the 2nd quarter. Stifel Financial Corp now owns 69,087 shares of the company’s stock worth $2,547,000 after purchasing an additional 570 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in MP Materials during the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Several equities research analysts have weighed in on MP shares. Bank of America started coverage on MP Materials in a report on Tuesday, November 30th. They set a “buy” rating on the stock. Jefferies Financial Group started coverage on MP Materials in a research report on Thursday, November 11th. They set a “buy” rating and a $55.00 price objective for the company. Zacks Investment Research raised MP Materials from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Saturday, November 13th. Benchmark started coverage on MP Materials in a research report on Thursday, November 11th. They set a “hold” rating for the company. Finally, Morgan Stanley upped their price objective on MP Materials from $38.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.56.

In other MP Materials news, Director Daniel Allen Gold sold 201,000 shares of the stock in a transaction that occurred on Friday, December 17th. The stock was sold at an average price of $42.42, for a total transaction of $8,526,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Financial Lp Qvt sold 343,400 shares of the stock in a transaction that occurred on Friday, December 10th. The stock was sold at an average price of $47.24, for a total value of $16,222,216.00. The disclosure for this sale can be found here. 49.70% of the stock is currently owned by company insiders.

Shares of NYSE MP opened at $46.83 on Friday. The stock has a market cap of $8.32 billion, a PE ratio of 69.90 and a beta of 3.45. The company has a quick ratio of 17.26, a current ratio of 17.74 and a debt-to-equity ratio of 0.71. MP Materials Corp. has a 52-week low of $23.18 and a 52-week high of $53.03. The business has a 50-day moving average price of $44.14 and a 200 day moving average price of $37.86.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The firm had revenue of $99.75 million during the quarter, compared to analysts’ expectations of $77.10 million. MP Materials had a return on equity of 12.49% and a net margin of 40.06%. The business’s revenue was up 143.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. Sell-side analysts anticipate that MP Materials Corp. will post 0.76 earnings per share for the current year.

MP Materials Profile

MP Materials Corp. engages in the ownership and operation of integrated rare earth mining and processing facilities. It owns and operates the Mountain Pass facility located in the Western Hemisphere. The company 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.

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Institutional Ownership by Quarter for MP Materials (NYSE:MP)

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