Zurcher Kantonalbank Zurich Cantonalbank Grows Position in MP Materials Corp. (NYSE:MP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in MP Materials Corp. (NYSE:MP) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,549 shares of the company’s stock after purchasing an additional 7,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of MP Materials worth $1,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peregrine Capital Management LLC increased its position in MP Materials by 35.3% during the 4th quarter. Peregrine Capital Management LLC now owns 27,622 shares of the company’s stock valued at $548,000 after buying an additional 7,200 shares in the last quarter. Vanguard Group Inc. increased its position in MP Materials by 25.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock valued at $255,574,000 after buying an additional 2,697,925 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in MP Materials by 1,000.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 66,000 shares of the company’s stock valued at $1,351,000 after buying an additional 60,000 shares in the last quarter. Baillie Gifford & Co. increased its position in MP Materials by 26.2% during the 4th quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock valued at $58,756,000 after buying an additional 614,088 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in MP Materials during the 3rd quarter valued at approximately $1,996,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MP shares. Canaccord Genuity Group reduced their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered MP Materials from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $16.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Morgan Stanley lowered MP Materials from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $26.00 to $15.50 in a report on Wednesday, March 13th. Finally, Jefferies Financial Group reduced their target price on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.64.

MP Materials Stock Performance

MP stock opened at $15.86 on Wednesday. The company has a market cap of $2.82 billion, a P/E ratio of 122.01 and a beta of 2.42. MP Materials Corp. has a 1 year low of $12.68 and a 1 year high of $26.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54. The stock’s fifty day moving average price is $15.27 and its 200-day moving average price is $16.41.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $41.21 million for the quarter, compared to the consensus estimate of $47.40 million. MP Materials had a return on equity of 3.86% and a net margin of 9.59%. On average, equities analysts forecast that MP Materials Corp. will post -0.13 earnings per share for the current year.

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.