Odyssean LLC Has $1.58 Million Stock Position in MP Materials Corp. $MP

Odyssean LLC grew its position in MP Materials Corp. (NYSE:MP) by 236.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,273 shares of the company’s stock after acquiring an additional 19,875 shares during the quarter. Odyssean LLC’s holdings in MP Materials were worth $1,584,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MP. Costello Asset Management INC increased its position in shares of MP Materials by 15.0% during the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. Composition Wealth LLC lifted its position in MP Materials by 0.9% in the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock worth $926,000 after purchasing an additional 172 shares during the period. ARS Investment Partners LLC lifted its position in MP Materials by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after purchasing an additional 200 shares during the period. Cresset Asset Management LLC boosted its stake in MP Materials by 1.0% during the second 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. Finally, Kestra Private Wealth Services LLC boosted its stake in MP Materials by 1.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 12,232 shares of the company’s stock worth $618,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MP shares. DA Davidson reissued a “buy” rating and issued a $82.00 price target on shares of MP Materials in a report on Monday. Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Needham & Company LLC decreased their target price on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MP Materials in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $78.21.

MP Materials Price Performance

Shares of MP stock opened at $60.25 on Wednesday. The stock’s fifty day simple moving average is $51.81 and its 200 day simple moving average is $56.82. MP Materials Corp. has a one year low of $37.81 and a one year high of $100.25. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of -177.21 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business’s revenue for the quarter was up 89.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) earnings per share. On average, analysts expect that MP Materials Corp. will post -0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michael Stuart Rosenthal purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $54.30 per share, with a total value of $543,000.00. Following the acquisition, the chief operating officer directly owned 136,622 shares of the company’s stock, valued at approximately $7,418,574.60. This trade represents a 7.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 185,167 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 11,620,798 shares in the company, valued at approximately $803,461,973.72. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 469,818 shares of company stock worth $31,487,908. 8.20% of the stock is owned by insiders.

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.