Chesapeake Capital Corp IL Makes New Investment in MP Materials Corp. $MP

Chesapeake Capital Corp IL purchased a new stake in MP Materials Corp. (NYSE:MP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,317 shares of the company’s stock, valued at approximately $1,027,000. MP Materials accounts for 0.9% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares in the last quarter. Grove Bank & Trust bought a new position in shares of MP Materials in the third quarter worth $34,000. SJS Investment Consulting Inc. increased its holdings in shares of MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the period. Hilltop National Bank increased its holdings in shares of MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of MP Materials by 75.9% during the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock valued at $43,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Securities raised shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. raised shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $75.00 to $74.00 in a research note on Friday, November 14th. William Blair restated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group started coverage on shares of MP Materials in a report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of “Buy” and a consensus price target of $78.91.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total value of $17,492,742.00. Following the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. The trade was a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.50% of the stock is owned by insiders.

MP Materials Trading Down 4.7%

Shares of MP Materials stock opened at $57.19 on Friday. The business has a fifty day simple moving average of $61.65 and a 200-day simple moving average of $63.46. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of -109.98 and a beta of 1.55. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47.

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.