MP Materials Corp. (NYSE:MP) Shares Purchased by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC grew its stake in shares of MP Materials Corp. (NYSE:MP) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,177 shares of the company’s stock after acquiring an additional 2,641 shares during the quarter. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after purchasing an additional 3,956 shares in the last quarter. Signaturefd LLC boosted its position in MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after purchasing an additional 3,262 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in MP Materials in the 2nd quarter worth approximately $72,000. Finally, KBC Group NV boosted its position in MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Down 1.6 %

Shares of NYSE:MP opened at $18.28 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm has a market capitalization of $3.02 billion, a PE ratio of -33.85 and a beta of 2.23. The firm’s 50-day moving average is $17.25 and its two-hundred day moving average is $15.29. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $20.85.

MP Materials announced that its Board of Directors has initiated a share buyback program on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MP shares. JPMorgan Chase & Co. upped their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of MP Materials in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their target price on MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Robert W. Baird raised their target price on MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.40.

MP Materials Profile

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.