7,850 Shares in MP Materials Corp. $MP Bought by Rossby Financial LCC

Rossby Financial LCC bought a new position in MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,850 shares of the company’s stock, valued at approximately $261,000.

Several other institutional investors have also recently bought and sold shares of MP. Highline Wealth Partners LLC acquired a new stake in MP Materials in the 2nd quarter worth $25,000. AdvisorNet Financial Inc increased its holdings in shares of MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares during the period. MAI Capital Management increased its holdings in shares of MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of MP Materials during the 1st quarter worth about $35,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of MP Materials during the 1st quarter worth about $35,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of MP Materials stock opened at $64.92 on Wednesday. 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 simple moving average is $71.55 and its 200-day simple moving average is $49.84. MP Materials Corp. has a twelve month low of $15.56 and a twelve month high of $100.25. The firm has a market cap of $11.50 billion, a P/E ratio of -103.04 and a beta of 2.32.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue was up 83.6% 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.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

MP has been the topic of several research reports. Benchmark restated a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Morgan Stanley set a $69.00 price objective on shares of MP Materials in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. DA Davidson boosted their price objective on shares of MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, Daiwa America upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.80.

MP Materials 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.