MP Materials Corp. $MP Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in MP Materials Corp. (NYSE:MP) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,055 shares of the company’s stock after purchasing an additional 2,153 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MP Materials were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after buying an additional 942,105 shares during the last quarter. Invesco Ltd. raised its stake in MP Materials by 25.3% during the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock worth $64,811,000 after acquiring an additional 536,522 shares during the period. BNP Paribas Financial Markets lifted its holdings in MP Materials by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after acquiring an additional 703,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MP Materials by 429.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after acquiring an additional 1,257,282 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in MP Materials in the first quarter valued at approximately $34,288,000. Institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $57.72, for a total transaction of $1,154,400.00. Following the transaction, the chief financial officer owned 194,812 shares in the company, valued at $11,244,548.64. This trade represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 418,411 shares of company stock valued at $27,820,926. Company insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

MP has been the topic of a number of research reports. The Goldman Sachs Group began coverage on MP Materials in a research report on Wednesday. They set a “buy” rating and a $77.00 price target on the stock. BMO Capital Markets assumed coverage on MP Materials in a research report on Thursday, October 9th. They issued a “market perform” rating and a $76.00 target price on the stock. Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Jefferies Financial Group upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Friday, August 1st. Finally, Canaccord Genuity Group increased their price objective on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.82.

MP Materials Stock Down 2.5%

Shares of MP Materials stock opened at $55.28 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $100.25. The business’s fifty day moving average price is $68.63 and its two-hundred day moving average price is $54.36. The company has a market capitalization of $9.80 billion, a P/E ratio of -77.86 and a beta of 2.26.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The company had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. As a group, research analysts forecast that MP Materials Corp. will post -0.19 EPS 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.