SG Americas Securities LLC Makes New Investment in MP Materials Corp. $MP

SG Americas Securities LLC bought a new stake in MP Materials Corp. (NYSE:MP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 153,926 shares of the company’s stock, valued at approximately $10,324,000. SG Americas Securities LLC owned approximately 0.09% of MP Materials at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miracle Mile Advisors LLC increased its position in shares of MP Materials by 1.0% during the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after acquiring an additional 188 shares in the last quarter. Wedmont Private Capital increased its position in shares of MP Materials by 1.7% during the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock valued at $872,000 after purchasing an additional 195 shares during the last quarter. Cresset Asset Management LLC raised its position in MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after acquiring an additional 204 shares during the period. Sound Income Strategies LLC increased its stake in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in MP Materials by 32.9% in the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock worth $41,000 after buying an additional 302 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

MP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $75.00 to $74.00 in a research note on Friday, November 14th. BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $76.00 to $75.00 in a research report on Monday, November 24th. The Goldman Sachs Group started coverage on MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. Finally, Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.91.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the sale, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This represents a 19.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 964,157 shares of company stock worth $61,031,328. Company insiders own 9.50% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $61.98 on Friday. The stock has a fifty day moving average of $57.33 and a 200 day moving average of $61.70. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of -87.30 and a beta of 1.62. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $49.72 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. 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 earnings per share for the current year.

MP Materials Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.