MP Materials Corp. $MP Shares Newly Purchased by Rye Brook Capital LLC

by · The Cerbat Gem

Rye Brook Capital LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP – Free Report) in the 3rd quarter, Holdings Channel reports. The fund purchased 13,698 shares of the company’s stock, valued at approximately $648,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Crumly & Associates Inc. grew its stake in shares of MP Materials by 27.5% in the third quarter. Crumly & Associates Inc. now owns 9,746 shares of the company’s stock valued at $461,000 after buying an additional 2,102 shares in the last quarter. CX Institutional lifted its stake in MP Materials by 15.7% in the third quarter. CX Institutional now owns 2,105 shares of the company’s stock valued at $100,000 after acquiring an additional 285 shares during the last quarter. Hickory Point Bank & Trust lifted its stake in MP Materials by 25.0% in the third quarter. Hickory Point Bank & Trust now owns 2,500 shares of the company’s stock valued at $118,000 after acquiring an additional 500 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of MP Materials by 12.7% in the 2nd quarter. QRG Capital Management Inc. now owns 4,796 shares of the company’s stock valued at $269,000 after acquiring an additional 541 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of MP Materials by 107.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 115,195 shares of the company’s stock valued at $6,452,000 after acquiring an additional 59,783 shares during the period. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Performance

MP Materials stock traded down $2.31 during trading hours on Wednesday, hitting $46.22. The company had a trading volume of 5,936,506 shares, compared to its average volume of 6,427,854. The firm has a 50-day moving average of $51.51 and a 200 day moving average of $55.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. The firm has a market cap of $8.23 billion, a PE ratio of -135.93 and a beta of 1.98. MP Materials Corp. has a one year low of $37.81 and a one year high of $100.25.

MP Materials (NYSE:MP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting 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 firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s revenue for the quarter was up 89.0% on a year-over-year basis. On average, sell-side analysts expect that MP Materials Corp. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MP shares. Zacks Research cut shares of MP Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley dropped their price objective on MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Freedom Broker started coverage on MP Materials in a research note on Wednesday, September 16th. They set a “hold” rating and a $57.00 target price for the company. Finally, Needham & Company LLC decreased their target price on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Get Our Latest Analysis on MP Materials

MP Materials Profile

(Free Report)

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.

See Also

Want to see what other hedge funds are holding MP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MP Materials Corp. (NYSE:MP – Free Report).