Caitong International Asset Management Co. Ltd Has $488,000 Stake in MP Materials Corp. $MP

Caitong International Asset Management Co. Ltd grew its position in MP Materials Corp. (NYSE:MP) by 26,018.9% during the fourth quarter, HoldingsChannel reports. The firm owned 9,664 shares of the company’s stock after buying an additional 9,627 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in MP Materials were worth $488,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in MP Materials during the fourth quarter valued at $26,000. REAP Financial Group LLC acquired a new position in shares of MP Materials in the 4th quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in shares of MP Materials during the 4th quarter valued at about $28,000. Financial Consulate Inc. boosted its position in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Finally, Montag A & Associates Inc. grew its stake in MP Materials by 106.2% during the third quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the completion of the transaction, the chief executive officer owned 12,505,965 shares in the company, valued at approximately $800,756,938.95. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,500,000.00. Following the transaction, the chief financial officer owned 109,017 shares of the company’s stock, valued at $8,176,275. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,205,167 shares of company stock valued at $79,371,654. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays began coverage on MP Materials in a report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 target price for the company. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Needham & Company LLC assumed coverage on shares of MP Materials in a research report on Monday, June 1st. They set a “buy” rating and a $81.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Friday, June 5th. Finally, Morgan Stanley boosted their target price on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $80.14.

MP Materials Stock Performance

MP opened at $60.83 on Friday. MP Materials Corp. has a 1-year low of $29.58 and a 1-year high of $100.25. The company has a market cap of $10.83 billion, a price-to-earnings ratio of -144.83 and a beta of 1.86. The company’s fifty day moving average price is $62.34 and its two-hundred day moving average price is $59.66. 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 (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The business’s revenue was up 49.1% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. On average, analysts expect that MP Materials Corp. will post -0.04 EPS for the current fiscal 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.