Cypress Capital Management LLC WY Takes Position in MP Materials Corp. $MP

Cypress Capital Management LLC WY bought a new stake in MP Materials Corp. (NYSE:MP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 18,868 shares of the company’s stock, valued at approximately $953,000.

Other large investors have also recently bought and sold shares of the company. Costello Asset Management INC boosted its position in MP Materials by 15.0% during the 4th quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock worth $66,000 after purchasing an additional 170 shares during the period. Composition Wealth LLC lifted its holdings in MP Materials by 0.9% in the 4th quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock worth $926,000 after buying an additional 172 shares in the last quarter. IMG Wealth Management Inc. lifted its holdings in MP Materials by 4.7% in the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after buying an additional 200 shares in the last quarter. ARS Investment Partners LLC lifted its holdings in MP Materials by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after buying an additional 200 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in MP Materials by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief financial officer owned 109,017 shares in the company, valued at approximately $8,176,275. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Stuart Rosenthal bought 17,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer owned 1,333,673 shares in the company, valued at $75,512,565.26. The trade was a 1.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 666,000 shares of company stock worth $43,103,382 over the last quarter. 8.20% of the stock is owned by company insiders.

MP Materials Price Performance

MP opened at $67.02 on Wednesday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of -159.57 and a beta of 1.90. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The company’s 50-day moving average price is $58.95 and its 200 day moving average price is $59.33. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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%. MP Materials’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, sell-side analysts expect that MP Materials Corp. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MP. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a report on Wednesday, May 20th. TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Finally, Morgan Stanley upped their target price on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $80.08.

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.