Dimensional Fund Advisors LP Buys 71,454 Shares of MP Materials Corp. (NYSE:MP)

Dimensional Fund Advisors LP increased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,355,982 shares of the company's stock after purchasing an additional 71,454 shares during the quarter. Dimensional Fund Advisors LP owned 1.43% of MP Materials worth $29,993,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of MP Materials by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company's stock valued at $198,216,000 after buying an additional 225,554 shares during the period. Baillie Gifford & Co. lifted its position 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 worth $35,895,000 after purchasing an additional 76,288 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of MP Materials by 1.5% in 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 purchasing an additional 26,119 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MP Materials by 2,536.8% in 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 purchasing an additional 1,598,861 shares during the period. Finally, First Trust Advisors LP grew its holdings in MP Materials by 9.5% during the 4th quarter. First Trust Advisors LP now owns 1,454,589 shares of the company's stock valued at $28,874,000 after purchasing an additional 126,611 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal bought 30,000 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $10.84 per share, with a total value of $325,200.00. Following the completion of the transaction, the chief operating officer now directly owns 1,402,975 shares of the company's stock, valued at approximately $15,208,249. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 12.60% of the company's stock.

Wall Street Analyst Weigh In

MP has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of MP Materials from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, July 23rd. Benchmark reiterated a "buy" rating and issued a $30.00 price target on shares of MP Materials in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on MP Materials from $13.50 to $12.50 and set a "hold" rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley lifted their target price on MP Materials from $13.50 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 19th. Finally, BMO Capital Markets upped their price target on MP Materials from $15.50 to $16.00 and gave the company a "market perform" rating in a research report on Monday. 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.com, MP Materials has a consensus rating of "Moderate Buy" and a consensus target price of $20.85.

MP Materials Price Performance

Shares of NYSE:MP traded down $0.02 on Thursday, reaching $16.94. 3,000,695 shares of the company traded hands, compared to its average volume of 3,396,973. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The stock has a market capitalization of $2.80 billion, a PE ratio of -111.93 and a beta of 2.23. The company's 50 day moving average is $13.45 and its 200-day moving average is $14.61. 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 - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.08). MP Materials had a negative return on equity of 4.28% and a negative net margin of 21.94%. The firm had revenue of $31.26 million during the quarter, compared to analysts' expectations of $40.03 million. During the same period last year, the business earned $0.07 earnings per share. The business's revenue was down 51.2% on a year-over-year basis. As a group, analysts anticipate that MP Materials Corp. will post -0.47 earnings per share for the current fiscal year.

MP Materials announced that its Board of Directors has initiated a stock repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management 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.