Creative Planning Raises Stock Position in MP Materials Corp. (NYSE:MP)

Creative Planning grew its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 219.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,871 shares of the company's stock after acquiring an additional 32,176 shares during the period. Creative Planning's holdings in MP Materials were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock worth $39,000 after purchasing an additional 1,285 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 buying an additional 3,956 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in MP Materials during the second quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in MP Materials during the 2nd quarter valued at approximately $100,000. Finally, Elkhorn Partners Limited Partnership increased its stake in MP Materials by 15.9% in the 1st quarter. Elkhorn Partners Limited Partnership now owns 8,000 shares of the company's stock worth $114,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors own 52.55% of the company's stock.

MP Materials Stock Up 1.3 %

Shares of MP stock traded up $0.24 on Friday, hitting $18.23. The stock had a trading volume of 1,817,985 shares, compared to its average volume of 2,143,032. MP Materials Corp. has a one year low of $10.02 and a one year high of $20.85. The business has a 50 day moving average price of $16.04 and a 200 day moving average price of $15.06. The company has a market cap of $3.01 billion, a PE ratio of -45.57 and a beta of 2.23. The company has a quick ratio of 6.17, a current ratio of 6.90 and a debt-to-equity ratio of 0.84.

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 the consensus estimate of ($0.09) by ($0.08). The business had revenue of $31.26 million for the quarter, compared to analysts' expectations 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 quarterly revenue was down 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. Research analysts anticipate that MP Materials Corp. will post -0.55 earnings per share for the current fiscal year.

MP Materials announced that its board has approved a share repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal acquired 30,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MP has been the subject of several research reports. Robert W. Baird increased their price objective on shares of MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 27th. BMO Capital Markets lifted their price target on MP Materials from $16.00 to $18.50 and gave the stock a "market perform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on MP Materials from $13.50 to $12.50 and set a "hold" rating for the company in a research note on Tuesday, August 6th. Finally, Canaccord Genuity Group dropped their target price on MP Materials from $20.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. Four equities research 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, MP Materials currently has an average rating of "Moderate Buy" and an average target price of $21.40.

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.