Jackson Square Capital LLC Purchases Shares of 35,253 MP Materials Corp. $MP

Jackson Square Capital LLC purchased a new stake in MP Materials Corp. (NYSE:MP) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 35,253 shares of the company’s stock, valued at approximately $1,781,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC raised its stake in MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 294 shares in the last quarter. Grove Bank & Trust acquired a new stake in MP Materials in the third quarter valued at $34,000. SJS Investment Consulting Inc. increased its position 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 worth $38,000 after purchasing an additional 552 shares in the last quarter. Hilltop National Bank increased its position in shares of MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of MP Materials by 75.9% during the third 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. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MP. TD Securities upgraded MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Wednesday, March 11th. William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $78.91.

Insider Transactions at MP Materials

In related 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 value of $2,760,000.00. Following the transaction, the chief financial officer owned 129,017 shares in the company, valued at $7,741,020. The trade was a 26.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

MP Materials Stock Up 10.3%

MP opened at $54.59 on Thursday. The business’s 50-day simple moving average is $56.97 and its 200-day simple moving average is $61.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The stock has a market capitalization of $9.70 billion, a P/E ratio of -104.99 and a beta of 1.67.

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