American Century Companies Inc. Acquires 37,139 Shares of MP Materials Corp. (NYSE:MP)

American Century Companies Inc. lifted its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 57.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,899 shares of the company's stock after purchasing an additional 37,139 shares during the period. American Century Companies Inc. owned about 0.06% of MP Materials worth $1,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in MP Materials by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company's stock valued at $198,216,000 after acquiring an additional 225,554 shares during the period. Baillie Gifford & Co. raised its holdings in shares of MP Materials by 2.8% during the second quarter. Baillie Gifford & Co. now owns 2,819,743 shares of the company's stock valued at $35,895,000 after buying an additional 76,288 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MP Materials by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,733,517 shares of the company's stock valued at $22,068,000 after buying an additional 26,119 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MP Materials by 2,536.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company's stock valued at $23,767,000 after buying an additional 1,598,861 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of MP Materials by 9.5% during the fourth quarter. First Trust Advisors LP now owns 1,454,589 shares of the company's stock valued at $28,874,000 after buying an additional 126,611 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price target on MP Materials from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, June 26th. DA Davidson boosted their target price on MP Materials from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on MP Materials from $13.50 to $12.50 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Benchmark reissued a "buy" rating and set a $30.00 target price on shares of MP Materials in a report on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on shares of MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average price target of $20.85.

MP Materials Stock Down 0.6 %

Shares of MP stock traded down $0.11 on Tuesday, hitting $17.54. The company's stock had a trading volume of 2,823,236 shares, compared to its average volume of 3,398,747. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $20.85. The firm's fifty day moving average price is $13.31 and its 200-day moving average price is $14.57. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -116.27 and a beta of 2.22.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.17) earnings per share (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 business had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same period in the previous year, the firm posted $0.07 EPS. The firm's revenue for the quarter was down 51.2% on a year-over-year basis. Research analysts anticipate that MP Materials Corp. will post -0.47 EPS for the current year.

MP Materials declared that its board has authorized a share buyback program on Tuesday, September 3rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal bought 30,000 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $10.84 per share, with a total value of $325,200.00. Following the transaction, the chief operating officer now directly owns 1,402,975 shares in the company, valued at $15,208,249. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.60% of the stock is owned by company insiders.

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.