Crossmark Global Holdings Inc. Has $209,000 Position in MP Materials Corp. (NYSE:MP)

Crossmark Global Holdings Inc. lessened its holdings in shares of MP Materials Corp. (NYSE:MP) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 16,455 shares of the company’s stock after selling 751 shares during the period. Crossmark Global Holdings Inc.’s holdings in MP Materials were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in MP Materials by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock worth $198,216,000 after purchasing an additional 225,554 shares during the last quarter. Baillie Gifford & Co. grew its position in MP Materials by 2.8% during the second quarter. Baillie Gifford & Co. now owns 2,819,743 shares of the company’s stock worth $35,895,000 after buying an additional 76,288 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MP Materials by 59.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after acquiring an additional 860,960 shares during the period. Bank of New York Mellon Corp raised its holdings in MP Materials by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,733,517 shares of the company’s stock valued at $22,068,000 after acquiring an additional 26,119 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of MP Materials by 2,536.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock worth $23,767,000 after acquiring an additional 1,598,861 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of research reports. Robert W. Baird lowered their price objective on MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group lowered their price target on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a report on Tuesday, August 6th. Bank of America decreased their target price on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

MP Materials Trading Down 2.0 %

Shares of MP stock opened at $13.70 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of -91.30 and a beta of 2.22. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $22.81. The company has a quick ratio of 6.17, a current ratio of 6.90 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $13.13 and a 200 day moving average price of $14.62.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). The firm had revenue of $31.26 million during the quarter, compared to the consensus estimate of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The business’s revenue was down 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. Research analysts forecast that MP Materials Corp. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal bought 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the completion of the purchase, the chief operating officer now owns 1,402,975 shares in the company, valued at approximately $15,208,249. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.60% of the company’s stock.

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.