MP Materials Corp. $MP Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in MP Materials Corp. (NYSE:MP) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,762 shares of the company’s stock after selling 3,852 shares during the quarter. Vontobel Holding Ltd.’s holdings in MP Materials were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MP. Highline Wealth Partners LLC purchased a new stake in MP Materials during the 2nd quarter valued at approximately $25,000. AdvisorNet Financial Inc raised its stake in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after acquiring an additional 506 shares during the last quarter. MAI Capital Management raised its stake in MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after acquiring an additional 800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials during the 1st quarter valued at approximately $35,000. Finally, Banque Cantonale Vaudoise purchased a new stake in MP Materials during the 1st quarter valued at approximately $35,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Up 8.7%

MP opened at $78.59 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The business has a 50 day simple moving average of $69.91 and a 200-day simple moving average of $45.24. The stock has a market capitalization of $13.92 billion, a P/E ratio of -124.75 and a beta of 2.32. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $84.92.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.MP Materials’s revenue was up 83.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MP. Cowen reaffirmed a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. BMO Capital Markets began coverage on MP Materials in a research note on Thursday. They set a “market perform” rating and a $76.00 price objective for the company. Daiwa Capital Markets began coverage on MP Materials in a research note on Monday, September 22nd. They set an “outperform” rating and a $80.00 target price for the company. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Jefferies Financial Group raised MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.00.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.60% of the company’s stock.

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.