MP Materials Corp. $MP Shares Purchased by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC increased its position in shares of MP Materials Corp. (NYSE:MP) by 2,053.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,128 shares of the company’s stock after purchasing an additional 47,800 shares during the quarter. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $3,101,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MP. Caxton Associates LLP acquired a new stake in MP Materials during the second quarter worth $132,238,000. Invesco Ltd. grew its holdings in shares of MP Materials by 14.3% during the 2nd quarter. Invesco Ltd. now owns 3,033,612 shares of the company’s stock worth $100,928,000 after purchasing an additional 378,510 shares during the period. BNP Paribas Financial Markets increased its position in shares of MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after purchasing an additional 1,264,243 shares during the last quarter. National Bank of Canada FI lifted its position in MP Materials by 19,314.3% in the second quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock valued at $66,987,000 after buying an additional 2,003,091 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in MP Materials by 2.0% during the second quarter. Segall Bryant & Hamill LLC now owns 1,196,902 shares of the company’s stock worth $39,821,000 after buying an additional 23,888 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and cut their target price for the company from $76.00 to $75.00 in a research report on Monday, November 24th. William Blair assumed coverage on MP Materials in a research note on Tuesday, January 13th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $75.00 to $74.00 in a research report on Friday, November 14th. Finally, Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.91.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the completion of the sale, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 991,557 shares of company stock valued at $62,785,202. 9.50% of the stock is owned by company insiders.

MP Materials Price Performance

Shares of NYSE MP opened at $59.16 on Tuesday. The stock’s 50-day moving average is $59.75 and its two-hundred day moving average is $64.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market cap of $10.49 billion, a price-to-earnings ratio of -83.33 and a beta of 1.62. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm 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 company posted ($0.12) earnings per share. MP Materials’s revenue for the quarter was down 14.9% compared to the same quarter last year. Analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

About MP Materials

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.