California State Teachers Retirement System grew its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 5,523.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,225,687 shares of the company's stock after purchasing an additional 9,061,633 shares during the period. California State Teachers Retirement System owned approximately 5.18% of MP Materials worth $516,731,000 as of its most recent SEC filing.

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A number of other hedge funds have also made changes to their positions in the stock. Ameritas Advisory Services LLC grew its position in MP Materials by 155.1% during the second quarter. Ameritas Advisory Services LLC now owns 12,640 shares of the company's stock valued at $708,000 after purchasing an additional 7,685 shares in the last quarter. Markowski Investments purchased a new position in shares of MP Materials during the 2nd quarter valued at $43,000. Oakmont Investment Advisors Inc. acquired a new position in shares of MP Materials in the second quarter worth $2,430,000. Odyssean LLC increased its stake in shares of MP Materials by 236.7% in the second quarter. Odyssean LLC now owns 28,273 shares of the company's stock worth $1,584,000 after acquiring an additional 19,875 shares during the last quarter. Finally, FirstWave Capital Management LLC raised its holdings in shares of MP Materials by 23.8% during the second quarter. FirstWave Capital Management LLC now owns 61,473 shares of the company's stock worth $3,443,000 after acquiring an additional 11,820 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a research report on Friday, July 17th. Needham & Company LLC dropped their target price on MP Materials from $81.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Barclays cut their price target on MP Materials from $69.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Morgan Stanley restated an "overweight" rating on shares of MP Materials in a report on Wednesday, August 19th. Finally, Zacks Research lowered shares of MP Materials from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.21.

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Read Our Latest Stock Report on MP

MP Materials Price Performance

Shares of NYSE:MP opened at $50.66 on Tuesday. MP Materials Corp. has a 1-year low of $37.81 and a 1-year high of $100.25. The firm has a market capitalization of $9.02 billion, a PE ratio of -149.01 and a beta of 1.94. The business's 50 day moving average is $51.22 and its 200-day moving average is $56.41. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48.

• Why Rare Earth Processing Could Be the Real 2027 Opportunity

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the company posted ($0.13) earnings per share. MP Materials's revenue was up 89.0% on a year-over-year basis. Sell-side analysts predict that MP Materials Corp. will post -0.12 earnings per share for the current year.

About MP Materials

(Free Report)

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass rare earth mine and processing facility in California. The site is one of the largest rare earth production facilities in the Western Hemisphere and produces rare earth concentrate, with an emphasis on neodymium-praseodymium (NdPr), materials used in high-performance permanent magnets.

The company is expanding its operations beyond mining and concentrate production into separated rare earth products and magnet manufacturing.

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