MP Materials Corp. $MP Stock: Teamwork Financial Advisors LLC Cuts Stake

Teamwork Financial Advisors LLC decreased its position in shares of MP Materials Corp. (NYSE:MP) by 93.4% in the 3rd quarter, Holdings Channel reports. The fund owned 12,486 shares of the company’s stock after selling 177,614 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in MP Materials were worth $590,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in MP Materials in the 2nd quarter valued at about $65,230,000. State Street Corp boosted its position in MP Materials by 5.1% during the second quarter. State Street Corp now owns 7,773,746 shares of the company’s stock worth $435,408,000 after purchasing an additional 376,519 shares during the period. Amundi boosted its position in MP Materials by 260.2% during the first quarter. Amundi now owns 385,001 shares of the company’s stock worth $18,580,000 after purchasing an additional 278,126 shares during the period. Principal Financial Group Inc. increased its stake in shares of MP Materials by 32.4% in the first quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock worth $44,355,000 after purchasing an additional 225,009 shares in the last quarter. Finally, Overbrook Management Corp purchased a new position in shares of MP Materials in the third quarter worth about $4,449,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

MP has been the topic of several research reports. Barclays lowered their price target on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Needham & Company LLC dropped their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Citigroup reiterated a “positive” rating on shares of MP Materials in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.92.

MP Materials Stock Performance

Shares of NYSE MP traded down $1.22 during mid-day trading on Monday, hitting $38.95. The company had a trading volume of 4,007,057 shares, compared to its average volume of 6,413,202. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48. MP Materials Corp. has a 1 year low of $37.81 and a 1 year high of $83.99. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -114.55 and a beta of 1.98. The stock’s 50-day moving average price is $51.25 and its 200-day moving average price is $54.62.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%. The business had revenue of $108.49 million for the quarter, compared to analysts’ expectations of $96.89 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. The firm’s quarterly revenue was up 89.0% on a year-over-year basis. On average, sell-side analysts forecast that MP Materials Corp. will post -0.20 earnings per share for the current year.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.