The Vanguard Group, Inc. has recently announced that it has increased stake in MP Materials Corporation (NYSE:MP) by 25.37%. After grabbing 13.22 million shares, the institutional investor is now in possession of 2.68 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 7.44% having worth around $216.83 million. Moreover, BlackRock Fund Advisors increased its share by 3.08 million to have a control over 10.74 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.68 million shares by acquiring 6.65 million shares or 3.74% of the stake.
MP Materials Corporation (MP) concluded trading on 12/14/23 at a closing price of $18.50, with 5.26 million shares of worth about $97.37 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.74% during that period and on Thursday the price saw a gain of about 10.12%. Currently the company’s common shares owned by public are about 177.71M shares, out of which, 143.44M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 488,201 shares in 23 of the transactions. In 18 selling transactions, insiders dumped 60,863,855 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in MP Materials Corporation Vanguard Total Stock Market ETF is currently holding 4.49 million shares of worth totaling $73.63 million. The company recently came buying 8614.0 shares which brought its stake up to 2.53% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 3.67 million shares, have now control over 2.07% of the stake in the company. It holds 10676.0 shares of worth $60.18 million.
However, the stock later moved at a day high price of 18.70, or with a gain of 10.12%. Stock saw a price change of 13.22% in past 5 days and over the past one month there was a price change of 14.55%. Year-to-date (YTD), MP shares are showing a performance of -23.81% which decreased to -41.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.47 but also hit the highest price of $36.67 during that period. The average intraday trading volume for MP Materials Corporation shares is 2.71 million. The stock is currently trading 14.25% above its 20-day simple moving average (SMA20), while that difference is up 11.99% for SMA50 and it goes to -14.95% lower than SMA200.
The Vanguard Group, Inc. acquired 13.22 million shares of MP Materials Corporation having value of about $216.83 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.68 million shares in the company valued at close to $49500764.5, or have control over 25.37% stake in the company. MP Materials Corporation (NYSE: MP) currently have 177.71M outstanding shares and institutions hold larger chunk of about 52.43% of that. Holding of mutual funds in the company is about 27.68% while other institutional holders and individual stake holders have control over 40.43% and 25.02% of the stake respectively.
The stock has a current market capitalization of $3.29B and its 3Y-monthly beta is at 2.46. PE ratio of stock for trailing 12 months is 33.19, while it has posted earnings per share of $0.56 in the same period. Its PEG reads 1.21 and has Quick Ratio of 11.45 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MP, volatility over the week remained 6.31% while standing at 4.64% over the month.
Analysts are in expectations that MP Materials Corporation (MP) stock would likely to be making an EPS of -$0.03 in the current quarter, while forecast for next quarter EPS is $0.01 and it is $0.56 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -79.62% while it is estimated to increase by 74.03% in next year.
