Dorsey Wright & Associates Makes New Investment in MP Materials Corp. $MP

Dorsey Wright & Associates purchased a new stake in shares of MP Materials Corp. (NYSE:MP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,221 shares of the company’s stock, valued at approximately $2,137,000.

Other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new position in MP Materials during the 2nd quarter worth approximately $168,000. Rockefeller Capital Management L.P. boosted its position in shares of MP Materials by 132.7% in the second quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock worth $5,888,000 after buying an additional 100,915 shares during the period. Creative Planning grew its holdings in shares of MP Materials by 3.1% during the second quarter. Creative Planning now owns 46,189 shares of the company’s stock valued at $1,537,000 after buying an additional 1,394 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in MP Materials by 7.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,055 shares of the company’s stock valued at $1,033,000 after buying an additional 2,153 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in MP Materials by 31.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 7,040 shares of the company’s stock worth $234,000 after acquiring an additional 1,678 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of MP opened at $58.59 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. The firm has a market cap of $10.38 billion, a PE ratio of -82.52 and a beta of 2.26. The firm’s 50 day moving average price is $68.90 and its 200 day moving average price is $53.64. MP Materials Corp. has a twelve month low of $15.56 and a twelve month high of $100.25.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The company had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same quarter in the prior year, the business posted ($0.12) EPS. MP Materials’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s 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 sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MP has been the topic of several research analyst reports. Wall Street Zen cut MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday. Benchmark reaffirmed a “buy” rating on shares of MP Materials in a research report on Friday, August 29th. JPMorgan Chase & Co. upgraded shares of MP Materials from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $75.00 to $74.00 in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $71.00 in a research note on Monday, November 10th. Finally, Cowen reaffirmed a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $79.00.

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.