MP Materials Corp. $MP Holdings Raised by Cwm LLC

Cwm LLC lifted its position in MP Materials Corp. (NYSE:MP) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,070 shares of the company’s stock after acquiring an additional 504 shares during the quarter. Cwm LLC’s holdings in MP Materials were worth $135,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in shares of MP Materials in the second quarter valued at $25,000. AdvisorNet Financial Inc lifted its stake in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after acquiring an additional 506 shares in the last quarter. MAI Capital Management lifted its stake in MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials in the 1st quarter worth about $35,000. Finally, Banque Cantonale Vaudoise purchased a new stake in MP Materials in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MP. Daiwa Capital Markets began coverage on shares of MP Materials in a research report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target for the company. Cowen reiterated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Morgan Stanley set a $69.00 target price on shares of MP Materials in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.80.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.50% of the stock is currently owned by corporate insiders.

MP Materials Price Performance

NYSE MP opened at $64.98 on Friday. The stock’s 50-day moving average is $71.41 and its two-hundred day moving average is $50.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. MP Materials Corp. has a fifty-two week low of $15.56 and a fifty-two week high of $100.25. The firm has a market cap of $11.51 billion, a P/E ratio of -103.13 and a beta of 2.32.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period last year, the business earned ($0.17) EPS. The firm’s revenue was up 83.6% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.