Himension Capital Singapore PTE. LTD. Buys 30,054 Shares of MP Materials Corp. $MP

Himension Capital Singapore PTE. LTD. increased its stake in MP Materials Corp. (NYSE:MP) by 28.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,016 shares of the company’s stock after purchasing an additional 30,054 shares during the period. MP Materials makes up 0.5% of Himension Capital Singapore PTE. LTD.’s holdings, making the stock its 28th largest position. Himension Capital Singapore PTE. LTD. owned approximately 0.08% of MP Materials worth $6,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MP. EMC Capital Management acquired a new position in shares of MP Materials during the fourth quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in MP Materials in the 4th quarter valued at approximately $26,000. REAP Financial Group LLC bought a new stake in MP Materials in the 4th quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new stake in MP Materials in the 4th quarter valued at approximately $28,000. Finally, Financial Consulate Inc. boosted its position in MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the stock in a transaction on 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 sale, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 234,651 shares of MP Materials stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $65.87, for a total transaction of $15,456,461.37. Following the completion of the transaction, the chief executive officer directly owned 11,855,965 shares of the company’s stock, valued at approximately $780,952,414.55. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 905,167 shares of company stock valued at $60,161,837. 8.20% of the stock is owned by corporate insiders.

MP Materials Stock Up 0.9%

MP stock opened at $46.13 on Wednesday. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $57.42 and a two-hundred day moving average price of $59.12. The company has a market cap of $8.21 billion, a price-to-earnings ratio of -109.83 and a beta of 1.86. MP Materials Corp. has a twelve month low of $43.82 and a twelve month high of $100.25.

MP Materials (NYSE:MP) last posted its quarterly earnings results 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 return on equity of 2.27% and a negative net margin of 28.00%.The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) EPS. Analysts anticipate that MP Materials Corp. will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wedbush boosted their price objective on shares of MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Barclays reduced their target price on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Citigroup reaffirmed a “positive” rating on shares of MP Materials in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MP Materials presently has an average rating of “Buy” and a consensus target price of $79.25.

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.