Gunderson Capital Management Inc. Makes New Investment in MP Materials Corp. $MP

Gunderson Capital Management Inc. bought a new position in MP Materials Corp. (NYSE:MP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,708 shares of the company’s stock, valued at approximately $3,168,000. MP Materials makes up about 1.4% of Gunderson Capital Management Inc.’s holdings, making the stock its 29th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in shares of MP Materials by 420.0% during the third 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 MP Materials in the 3rd quarter valued at approximately $34,000. SJS Investment Consulting Inc. boosted its stake in MP Materials by 4,600.0% during the 3rd 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 last quarter. Hilltop National Bank boosted its stake in MP Materials by 500.0% during the 3rd 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 last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of MP Materials by 75.9% in the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

NYSE MP opened at $48.29 on Wednesday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -92.86 and a beta of 1.55. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67. The business’s fifty day moving average price is $58.90 and its 200-day moving average price is $62.27.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The company had revenue of $52.69 million during the quarter, compared to analyst estimates of $76.06 million. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.MP Materials’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 46,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the completion of the sale, the chief financial officer directly owned 129,017 shares in the company, valued at $7,741,020. The trade was a 26.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. The trade was a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 346,000 shares of company stock worth $22,006,616 over the last three months. Insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.50 to $71.00 in a report on Friday, December 5th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. TD Securities raised MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. DA Davidson restated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research note on Wednesday, March 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $78.91.

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.