Lisanti Capital Growth LLC Raises Stock Position in MP Materials Corp. $MP

Lisanti Capital Growth LLC boosted its stake in MP Materials Corp. (NYSE:MP) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,635 shares of the company’s stock after purchasing an additional 12,930 shares during the period. MP Materials makes up approximately 1.4% of Lisanti Capital Growth LLC’s holdings, making the stock its 28th largest position. Lisanti Capital Growth LLC owned about 0.09% of MP Materials worth $4,978,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC purchased a new position in MP Materials in the second quarter worth about $221,000. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of MP Materials in the 2nd quarter worth approximately $2,385,000. KCM Investment Advisors LLC boosted its holdings in shares of MP Materials by 3.7% in the second quarter. KCM Investment Advisors LLC now owns 24,905 shares of the company’s stock worth $829,000 after buying an additional 890 shares during the last quarter. North Capital Inc. bought a new stake in MP Materials during the second quarter valued at approximately $67,000. Finally, Resona Asset Management Co. Ltd. increased its holdings in MP Materials by 69.4% during the second quarter. Resona Asset Management Co. Ltd. now owns 11,305 shares of the company’s stock valued at $372,000 after buying an additional 4,630 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MP has been the subject of several analyst reports. DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Friday. BMO Capital Markets started coverage on MP Materials in a research report on Thursday, October 9th. They issued a “market perform” rating and a $76.00 price target for the company. Canaccord Genuity Group raised their price objective on MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Morgan Stanley set a $69.00 price objective on MP Materials in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.80.

MP Materials Stock Up 12.8%

NYSE MP opened at $58.59 on Friday. The stock has a 50 day moving average price of $69.71 and a 200-day moving average price of $51.72. MP Materials Corp. has a one year low of $15.56 and a one year high of $100.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The company has a market capitalization of $10.38 billion, a P/E ratio of -82.52 and a beta of 2.26.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 9.42%. The company had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. MP Materials’s revenue was down 14.9% on a year-over-year basis. As a group, equities analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.50% of the company’s stock.

MP Materials Company 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.