DDD Partners LLC Sells 769 Shares of MP Materials Corp. (NYSE:MP)

DDD Partners LLC lessened its position in MP Materials Corp. (NYSE:MP) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,646 shares of the company’s stock after selling 769 shares during the quarter. DDD Partners LLC’s holdings in MP Materials were worth $390,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in 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 buying an additional 1,134 shares during the period. Sunbelt Securities Inc. increased its stake in MP Materials by 3,848.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,974 shares of the company’s stock worth $45,000 after buying an additional 1,924 shares during the period. Elkhorn Partners Limited Partnership increased its stake in MP Materials by 33.9% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 1,875 shares of the company’s stock worth $46,000 after buying an additional 475 shares during the period. First Manhattan Co. increased its stake in MP Materials by 66.7% in the 4th quarter. First Manhattan Co. now owns 2,500 shares of the company’s stock worth $61,000 after buying an additional 1,000 shares during the period. Finally, ANTIPODES PARTNERS Ltd increased its stake in MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock worth $70,000 after buying an additional 1,855 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 6.4 %

MP stock opened at $14.53 on Thursday. The firm has a 50 day moving average of $15.39 and a 200 day moving average of $16.94. The stock has a market capitalization of $2.59 billion, a PE ratio of 111.78, a price-to-earnings-growth ratio of 1.34 and a beta of 2.44. The company has a quick ratio of 9.54, a current ratio of 10.42 and a debt-to-equity ratio of 0.50. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $28.75.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $41.21 million during the quarter, compared to analysts’ expectations of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. Sell-side analysts forecast that MP Materials Corp. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MP. Jefferies Financial Group reduced 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 note on Tuesday, March 19th. Morgan Stanley downgraded shares of MP Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $15.50 in a research report on Wednesday, March 13th. Canaccord Genuity Group cut their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of MP Materials from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.44.

About MP Materials

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.