Evergreen Capital Management LLC Makes New Investment in MP Materials Corp. (NYSE:MP)

Evergreen Capital Management LLC acquired a new position in shares of MP Materials Corp. (NYSE:MPFree Report) in the third quarter, HoldingsChannel.com reports. The fund acquired 12,323 shares of the company’s stock, valued at approximately $235,000.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of MP Materials by 20.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock valued at $51,770,000 after purchasing an additional 452,501 shares in the last quarter. Independent Advisor Alliance purchased a new position in shares of MP Materials in the 3rd quarter valued at about $1,197,000. ANTIPODES PARTNERS Ltd increased its holdings in shares of MP Materials by 103.6% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 3,645 shares of the company’s stock valued at $70,000 after purchasing an additional 1,855 shares in the last quarter. Barclays PLC grew its stake in MP Materials by 14.2% in the 3rd quarter. Barclays PLC now owns 122,019 shares of the company’s stock valued at $2,331,000 after acquiring an additional 15,186 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its stake in MP Materials by 10.4% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,050 shares of the company’s stock valued at $356,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 59.41% of the company’s stock.

MP Materials Price Performance

MP Materials stock opened at $15.27 on Friday. MP Materials Corp. has a 12-month low of $14.04 and a 12-month high of $32.16. The stock has a market capitalization of $2.72 billion, a P/E ratio of 117.47 and a beta of 2.44. The firm’s 50-day moving average is $16.55 and its two-hundred day moving average is $17.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MP shares. Morgan Stanley lowered their price objective on shares of MP Materials from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, December 7th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of MP Materials in a research note on Tuesday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.83.

View Our Latest Stock Analysis on MP

About MP Materials

(Free Report)

MP Materials Corp., together with its subsidiaries, produces rare earth materials in the Western Hemisphere. 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.

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

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