Stonehage Fleming Financial Services Holdings Ltd Acquires New Stake in MP Materials Corp. $MP

Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,770 shares of the company’s stock, valued at approximately $491,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Aberdeen Group plc lifted its position in MP Materials by 9.9% in the 2nd quarter. Aberdeen Group plc now owns 107,023 shares of the company’s stock valued at $3,561,000 after acquiring an additional 9,659 shares in the last quarter. Verde Servicos Internacionais S.A. bought a new stake in MP Materials during the 2nd quarter worth about $466,000. Coordinated Financial Services Inc. bought a new stake in MP Materials during the 2nd quarter worth about $227,000. IFP Advisors Inc lifted its position in MP Materials by 890.5% during the 2nd quarter. IFP Advisors Inc now owns 29,417 shares of the company’s stock worth $1,045,000 after buying an additional 26,447 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in MP Materials during the 2nd quarter worth about $229,000. 52.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This represents a 10.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MP shares. DA Davidson boosted their price target on shares of MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Morgan Stanley set a $69.00 price target on shares of MP Materials in a research report on Wednesday. Canaccord Genuity Group boosted their price target on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Finally, Cowen reissued a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

MP Materials Stock Up 8.7%

Shares of MP stock opened at $78.59 on Friday. 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 firm’s 50-day moving average is $69.91 and its 200-day moving average is $45.11. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of -124.75 and a beta of 2.32. MP Materials Corp. has a 52-week low of $15.56 and a 52-week high of $84.92.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. MP Materials’s quarterly revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. Sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

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.