Osaic Holdings Inc. Sells 15,873 Shares of MP Materials Corp. $MP

Osaic Holdings Inc. trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 15.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,584 shares of the company’s stock after selling 15,873 shares during the period. Osaic Holdings Inc. owned 0.05% of MP Materials worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MP. Thrivent Financial for Lutherans lifted its position in shares of MP Materials by 6.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 94,251 shares of the company’s stock valued at $3,136,000 after buying an additional 5,541 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in MP Materials by 40.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company’s stock valued at $47,000 after acquiring an additional 400 shares during the period. Marex Group plc purchased a new stake in MP Materials during the second quarter valued at about $729,000. MRP Capital Investments LLC lifted its holdings in MP Materials by 44.2% during the second quarter. MRP Capital Investments LLC now owns 41,125 shares of the company’s stock valued at $1,368,000 after purchasing an additional 12,600 shares during the last quarter. Finally, State of Wyoming bought a new position in MP Materials during the second quarter worth about $54,000. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MP shares. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $75.00 to $74.00 in a research report on Friday, November 14th. Bank of America raised their price target on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating on shares of MP Materials in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Trading Down 1.9%

MP Materials stock opened at $53.48 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. MP Materials Corp. has a fifty-two week low of $15.56 and a fifty-two week high of $100.25. The stock has a market cap of $9.48 billion, a P/E ratio of -75.32 and a beta of 1.69. The firm’s fifty day moving average price is $59.86 and its 200-day moving average price is $60.09.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.05. The business had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm’s revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) earnings per share. Equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO James H. Litinsky sold 385,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the transaction, the chief executive officer directly owned 13,105,965 shares in the company, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the sale, the chief financial officer directly owned 156,666 shares in the company, valued at $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 691,557 shares of company stock valued at $43,538,586 in the last three months. 9.50% 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.