Strengthening Families & Communities LLC Acquires 2,641 Shares of MP Materials Corp. (NYSE:MP)

Strengthening Families & Communities LLC grew its holdings in MP Materials Corp. (NYSE:MP) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,177 shares of the company’s stock after purchasing an additional 2,641 shares during the period. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $1,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MP. Mirae Asset Global Investments Co. Ltd. increased its holdings in MP Materials by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,796 shares of the company’s stock worth $269,000 after acquiring an additional 1,942 shares during the period. Vanguard Group Inc. increased its holdings in MP Materials by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock worth $198,216,000 after acquiring an additional 225,554 shares during the period. Clearbridge Investments LLC increased its holdings in MP Materials by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 671,021 shares of the company’s stock worth $9,596,000 after acquiring an additional 15,851 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in MP Materials by 14.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 188,828 shares of the company’s stock worth $2,700,000 after acquiring an additional 23,903 shares during the period. Finally, LGT Group Foundation increased its holdings in MP Materials by 5.1% during the 1st quarter. LGT Group Foundation now owns 238,715 shares of the company’s stock worth $3,414,000 after acquiring an additional 11,491 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 1.6 %

NYSE MP opened at $18.28 on Monday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $17.25 and a two-hundred day moving average of $15.29. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -33.85 and a beta of 2.23. 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 has authorized a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on MP. BMO Capital Markets boosted their price target on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their price target on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Robert W. Baird boosted their price target on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Four equities 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, the stock has an average 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.