CX Institutional Purchases Shares of 3,236 MP Materials Corp. (NYSE:MP)

CX Institutional acquired a new position in MP Materials Corp. (NYSE:MP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,236 shares of the company’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock worth $140,000 after purchasing an additional 1,975 shares during the period. Wedmont Private Capital raised its holdings in MP Materials by 41.6% during the first quarter. Wedmont Private Capital now owns 14,411 shares of the company’s stock worth $327,000 after buying an additional 4,236 shares during the last quarter. RFG Advisory LLC acquired a new position in MP Materials during the first quarter worth $1,042,000. NBC Securities Inc. lifted its stake in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,199 shares in the last quarter. Finally, Mirador Capital Partners LP grew its holdings in shares of MP Materials by 4.7% during the first quarter. Mirador Capital Partners LP now owns 24,263 shares of the company’s stock valued at $592,000 after buying an additional 1,091 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 378,874 shares of company stock worth $10,235,862. 9.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, May 12th. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets raised their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

MP Materials Stock Performance

Shares of MP stock opened at $34.60 on Tuesday. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $35.05. The firm’s 50-day simple moving average is $23.76 and its two-hundred day simple moving average is $22.60. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -58.65 and a beta of 2.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. MP Materials’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.