249,388 Shares in MP Materials Corp. $MP Purchased by Calamos Advisors LLC

Calamos Advisors LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 249,388 shares of the company’s stock, valued at approximately $16,726,000. Calamos Advisors LLC owned about 0.14% of MP Materials at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MP. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of MP Materials during the third quarter valued at approximately $677,000. Diversified Trust Co bought a new stake in MP Materials in the third quarter valued at $294,000. Cobblestone Asset Management LLC purchased a new position in MP Materials during the 3rd quarter valued at $282,000. Tripletail Wealth Management LLC raised its holdings in MP Materials by 2.8% in the 3rd quarter. Tripletail Wealth Management LLC now owns 11,692 shares of the company’s stock worth $784,000 after purchasing an additional 315 shares in the last quarter. Finally, Ethic Inc. purchased a new stake in shares of MP Materials in the 3rd quarter worth about $295,000. 52.55% of the stock is currently owned by institutional investors.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 38,146 shares of the 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 sale, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. The trade was a 19.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 691,557 shares of company stock valued at $43,538,586. 12.60% of the stock is owned by company insiders.

MP Materials Trading Down 2.8%

MP Materials stock opened at $50.47 on Wednesday. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of -71.09 and a beta of 1.70. The business’s fifty day simple moving average is $58.76 and its two-hundred day simple moving average is $60.87. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05. The firm had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The company’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. As a group, equities 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 weighed in on MP. The Goldman Sachs Group started coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Bank of America lifted their price objective on MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Thursday, November 20th. Finally, Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.91.

MP Materials Company Profile

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.