MP Materials Corp. (MP) Fell 18.8% in Q2
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors highlighted stocks like MP Materials Corp. (NYSE:MP) in the second quarter 2023 investor letter. Headquartered in Las Vegas, Nevada, MP Materials Corp. (NYSE:MP) operates mining and processing facilities. On July 19, 2023, MP Materials Corp. (NYSE:MP) stock closed at $24.08 per share. One-month return of MP Materials Corp. (NYSE:MP) was 9.75%, and its shares lost 18.81% of their value over the last 52 weeks. MP Materials Corp. (NYSE:MP) has a market capitalization of $4.277 billion.
Bernzott Capital Advisors made the following comment about MP Materials Corp. (NYSE:MP) in its second quarter 2023 investor letter:
"Materials detracted from relative returns. MP Materials Corp. (NYSE:MP), a miner of rare earth minerals, fell -18.8% as weak ore prices weighed on its stock price. The long-term outlook is bright as the EV supply chain continues to expand and the company figures prominently as a domestic source of a required resource."
Photo by Ricardo Gomez Angel on Unsplash
MP Materials Corp. (NYSE:MP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held MP Materials Corp. (NYSE:MP) at the end of first quarter which was 39 in the previous quarter.
We discussed MP Materials Corp. (NYSE:MP) in another article and shared the list of best mining stocks hedge funds are buying. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
