Oak Thistle LLC Makes New Investment in MP Materials Corp. $MP

Oak Thistle LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 27,556 shares of the company’s stock, valued at approximately $1,543,000.

A number of other large investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of MP Materials during the fourth quarter worth approximately $82,531,000. BNP Paribas Financial Markets increased its stake in MP Materials by 76.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after buying an additional 1,264,243 shares during the period. Van ECK Associates Corp increased its stake in MP Materials by 71.6% in the 4th quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock valued at $143,220,000 after buying an additional 1,183,307 shares during the period. Hancock Prospecting Pty Ltd lifted its position in MP Materials by 7.2% in the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Amundi lifted its position in MP Materials by 1,320.8% in the 3rd quarter. Amundi now owns 954,317 shares of the company’s stock worth $70,934,000 after buying an additional 887,148 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MP. Morgan Stanley boosted their price target on shares of MP Materials from $70.00 to $71.50 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Wedbush boosted their target price on MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Barclays dropped their target price on MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. cut their price target on MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, MP Materials currently has an average rating of “Buy” and an average price target of $78.21.

MP Materials Price Performance

NYSE MP opened at $53.87 on Thursday. MP Materials Corp. has a twelve month low of $37.81 and a twelve month high of $100.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The stock has a market capitalization of $9.59 billion, a PE ratio of -158.44 and a beta of 1.88. The stock has a 50-day simple moving average of $51.83 and a 200 day simple moving average of $57.19.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The firm’s revenue for the quarter was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) EPS. Research analysts anticipate that MP Materials Corp. will post 0.04 EPS for the current year.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 185,167 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total transaction of $12,802,446.38. Following the transaction, the chief executive officer owned 11,620,798 shares of the company’s stock, valued at approximately $803,461,973.72. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Stuart Rosenthal bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $54.30 per share, with a total value of $543,000.00. Following the completion of the purchase, the chief operating officer owned 136,622 shares in the company, valued at approximately $7,418,574.60. The trade was a 7.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 585,167 shares of company stock valued at $39,028,272 over the last three months. 8.20% of the stock is owned by company insiders.

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.