Bernzott Capital Advisors Boosts Stock Holdings in MP Materials Corp. (NYSE:MP)

Bernzott Capital Advisors increased its stake in MP Materials Corp. (NYSE:MP - Free Report) by 43.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,270 shares of the company's stock after buying an additional 208,586 shares during the period. MP Materials accounts for 5.2% of Bernzott Capital Advisors' portfolio, making the stock its largest position. Bernzott Capital Advisors owned approximately 0.42% of MP Materials worth $12,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MP. GAMMA Investing LLC grew its holdings in MP Materials by 136.0% in the third 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. Nisa Investment Advisors LLC grew its holdings in MP Materials by 3,803.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company's stock worth $52,000 after purchasing an additional 3,956 shares during the period. Signaturefd LLC grew its holdings 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 purchasing an additional 3,262 shares during the period. Point72 Hong Kong Ltd purchased a new stake in MP Materials in the second quarter worth about $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in MP Materials in the second quarter worth about $100,000. 52.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MP shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $13.50 to $12.50 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Morgan Stanley increased their price target on shares of MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. Robert W. Baird increased their price target on shares of MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, September 27th. Benchmark reiterated a "buy" rating and set a $30.00 price target on shares of MP Materials in a report on Friday, August 2nd. Finally, BMO Capital Markets increased their price target on shares of MP Materials from $16.00 to $18.50 and gave the company a "market perform" rating in a report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.40.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal acquired 30,000 shares of the business's stock in a transaction dated 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 approximately $15,208,249. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.60% of the company's stock.

MP Materials Stock Performance

MP stock traded up $0.12 on Tuesday, hitting $19.00. The company had a trading volume of 1,349,945 shares, compared to its average volume of 3,288,774. The company has a current ratio of 6.90, a quick ratio of 6.17 and a debt-to-equity ratio of 0.84. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $20.85. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -47.50 and a beta of 2.23. The stock's 50-day simple moving average is $15.58 and its 200 day simple moving average is $15.01.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $40.03 million. During the same period in the previous year, the firm earned $0.07 EPS. The company's revenue was down 51.2% on a year-over-year basis. As a group, equities research 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 approved 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 reacquire up to 13.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.