Regal Partners Ltd Reduces Stake in MP Materials Corp. (NYSE:MP)

Regal Partners Ltd lessened its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,987 shares of the company's stock after selling 141,029 shares during the quarter. Regal Partners Ltd owned 0.20% of MP Materials worth $5,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. increased its stake in shares of MP Materials by 0.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company's stock worth $3,355,000 after purchasing an additional 910 shares during the last quarter. Elkhorn Partners Limited Partnership increased its position in MP Materials by 15.9% in the first quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company's stock worth $114,000 after buying an additional 1,100 shares during the last quarter. Aurora Investment Counsel increased its position in MP Materials by 1.7% in the second quarter. Aurora Investment Counsel now owns 66,153 shares of the company's stock worth $842,000 after buying an additional 1,122 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of MP Materials by 8.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 16,207 shares of the company's stock valued at $206,000 after buying an additional 1,228 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of MP Materials by 0.4% during the 2nd quarter. Private Advisor Group LLC now owns 365,973 shares of the company's stock worth $4,659,000 after acquiring an additional 1,280 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MP shares. DA Davidson upped their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. BMO Capital Markets lifted their price objective on shares of MP Materials from $16.00 to $18.50 and gave the company a "market perform" rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on MP Materials from $13.50 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, September 19th. Robert W. Baird boosted their price objective on MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, September 27th. Finally, Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of MP Materials in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials presently has an average rating of "Moderate Buy" and an average price target of $21.40.

MP Materials Trading Down 2.9 %

NYSE MP traded down $0.56 during trading on Thursday, hitting $18.56. 2,677,329 shares of the company's stock traded hands, compared to its average volume of 3,257,091. The stock has a fifty day moving average of $17.07 and a two-hundred day moving average of $15.26. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $20.85. The firm has a market cap of $3.07 billion, a P/E ratio of -34.37 and a beta of 2.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials announced that its board has approved a share buyback plan on Tuesday, September 3rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

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.