106,647 Shares in MP Materials Corp. $MP Bought by Trek Financial LLC

Trek Financial LLC bought a new position in MP Materials Corp. (NYSE:MP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 106,647 shares of the company’s stock, valued at approximately $5,388,000.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of MP Materials in the fourth quarter valued at about $26,000. Financial Consulate Inc. increased its position in shares of MP Materials by 555.3% in the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the period. Bessemer Group Inc. increased its position in shares of MP Materials by 75.9% in the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock valued at $43,000 after acquiring an additional 277 shares during the period. Montag A & Associates Inc. increased its position in shares of MP Materials by 106.2% in the third quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares during the period. Finally, Bogart Wealth LLC purchased a new position in shares of MP Materials in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 20,000 shares of MP Materials stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the sale, the chief financial officer owned 109,017 shares of the company’s stock, valued at approximately $8,176,275. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the sale, the chief executive officer directly owned 12,505,965 shares in the company, valued at $800,756,938.95. The trade was a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 366,000 shares of company stock worth $23,469,816 in the last ninety days. Insiders own 8.20% of the company’s stock.

MP Materials Trading Down 0.0%

Shares of MP opened at $67.42 on Tuesday. The firm’s 50-day moving average price is $58.70 and its 200-day moving average price is $59.49. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of -160.53 and a beta of 1.90. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. Sell-side analysts anticipate that MP Materials Corp. will post 0.1 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Wedbush boosted their price objective on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley boosted their price objective on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and a consensus target price of $81.00.

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.