J.W. Cole Advisors Inc. Purchases 12,172 Shares of MP Materials Corp. (NYSE:MP)

J.W. Cole Advisors Inc. raised its position in MP Materials Corp. (NYSE:MP) by 14.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,376 shares of the company’s stock after acquiring an additional 12,172 shares during the quarter. J.W. Cole Advisors Inc. owned approximately 0.06% of MP Materials worth $1,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake 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 worth $39,000 after purchasing an additional 1,285 shares during the period. Signaturefd LLC raised its position in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after acquiring an additional 3,262 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 3,803.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after acquiring an additional 3,956 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of MP Materials during the 2nd quarter valued at $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MP Materials in the 2nd quarter worth $100,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of NYSE:MP opened at $18.89 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.17 and a current ratio of 6.90. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -47.22 and a beta of 2.23. The firm has a fifty day moving average price of $15.58 and a 200 day moving average price of $15.01. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $20.85.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The company had revenue of $31.26 million for the quarter, compared to the consensus estimate of $40.03 million. The firm’s revenue for the quarter was down 51.2% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. As a group, sell-side analysts expect that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

MP Materials announced that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $10.84 per share, with a total value of $325,200.00. Following the acquisition, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MP has been the topic of several analyst reports. Robert W. Baird lifted their target price on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft cut their price objective 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. DA Davidson raised their target price on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group dropped their price target on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.40.

About MP Materials

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.