SG Americas Securities LLC lifted its stake in shares of MP Materials Corp. (NYSE:MP – Free Report) by 27.7% during the first quarter, HoldingsChannel.com reports. The fund owned 218,200 shares of the company’s stock after buying an additional 47,314 shares during the quarter. SG Americas Securities LLC’s holdings in MP Materials were worth $10,530,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. EMC Capital Management bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new position in MP Materials in the fourth quarter worth approximately $26,000. REAP Financial Group LLC purchased a new position in MP Materials during the 4th quarter worth $26,000. Financial Consulate Inc. increased its holdings in MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in MP Materials during the 4th quarter valued at $28,000. 52.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Tuesday, April 21st. Morgan Stanley raised their price target on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Finally, DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a report on Friday, June 5th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $80.14.
Insider Activity at MP Materials
In related news, COO Michael Stuart Rosenthal bought 10,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $54.30 per share, for a total transaction of $543,000.00. Following the completion of the purchase, the chief operating officer directly owned 136,622 shares of the company’s stock, valued at approximately $7,418,574.60. This trade represents a 7.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer owned 109,017 shares of the company’s stock, valued at $8,176,275. This represents a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,205,167 shares of company stock valued at $79,371,654 over the last quarter. 8.20% of the stock is owned by corporate insiders.
MP Materials Stock Down 3.0%
MP Materials stock opened at $53.95 on Friday. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.60 billion, a P/E ratio of -128.44 and a beta of 1.86. The business has a fifty day moving average of $62.38 and a two-hundred day moving average of $59.55. MP Materials Corp. has a twelve month low of $29.58 and a twelve month high of $100.25.
MP Materials (NYSE:MP – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business’s revenue was up 49.1% compared to the same quarter last year. During the same period last year, the business posted ($0.12) EPS. On average, analysts forecast that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.
MP Materials Company 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.
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