KCM Investment Advisors LLC Grows Position in MP Materials Corp. (NYSE:MP)

KCM Investment Advisors LLC boosted its stake in shares of MP Materials Corp. (NYSE:MP) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,945 shares of the company’s stock after purchasing an additional 1,550 shares during the period. KCM Investment Advisors LLC’s holdings in MP Materials were worth $529,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MP. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Canaccord Genuity Group decreased their target price on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, DA Davidson boosted their target price on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.40.

MP Materials Price Performance

Shares of NYSE MP opened at $18.27 on Friday. The firm has a 50-day simple moving average of $17.25 and a 200-day simple moving average of $15.30. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -33.83 and a beta of 2.23. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $20.85.

MP Materials announced that its Board of Directors has approved a share buyback plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

MP Materials Company 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.