MP Materials Corp. (NYSE:MP) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its position in MP Materials Corp. (NYSE:MP) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,707 shares of the company’s stock after selling 1,263 shares during the quarter. Yousif Capital Management LLC’s holdings in MP Materials were worth $1,091,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of MP Materials during the fourth quarter worth $228,000. New York State Teachers Retirement System raised its position in shares of MP Materials by 7.3% during the fourth quarter. New York State Teachers Retirement System now owns 99,900 shares of the company’s stock worth $1,558,000 after purchasing an additional 6,800 shares during the period. Principal Financial Group Inc. raised its position in shares of MP Materials by 48.7% during the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock worth $14,035,000 after purchasing an additional 294,806 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of MP Materials during the fourth quarter worth $159,000. Finally, Private Advisor Group LLC raised its position in shares of MP Materials by 76.5% during the fourth quarter. Private Advisor Group LLC now owns 248,591 shares of the company’s stock worth $3,878,000 after purchasing an additional 107,738 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $37.19 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $39.10. The stock’s 50-day moving average is $24.27 and its two-hundred day moving average is $22.79. The firm has a market cap of $6.08 billion, a P/E ratio of -57.22 and a beta of 2.14.

MP Materials (NYSE:MP) last issued its earnings results 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). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The firm had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MP. BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. Robert W. Baird upped their price target on MP Materials from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Finally, DA Davidson upped 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. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.06.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 18,519 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the transaction, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. This represents a 0.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.50% of the company’s stock.

MP Materials 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.