Commonwealth Equity Services LLC Acquires 35,783 Shares of MP Materials Corp. $MP

Commonwealth Equity Services LLC grew its holdings in MP Materials Corp. (NYSE:MP) by 69.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,554 shares of the company’s stock after purchasing an additional 35,783 shares during the period. Commonwealth Equity Services LLC’s holdings in MP Materials were worth $5,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MP. Fifth Third Wealth Advisors LLC purchased a new position in MP Materials in the 3rd quarter worth about $569,000. Fountainhead AM LLC purchased a new stake in MP Materials in the 3rd quarter valued at about $300,000. Woodward Diversified Capital LLC bought a new position in MP Materials in the 3rd quarter worth about $1,579,000. Saxony Capital Management LLC purchased a new position in shares of MP Materials during the third quarter worth approximately $205,000. Finally, Global Retirement Partners LLC increased its position in shares of MP Materials by 234.9% during the third quarter. Global Retirement Partners LLC now owns 9,361 shares of the company’s stock worth $628,000 after acquiring an additional 6,566 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 991,557 shares of company stock valued at $62,785,202. 9.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday, October 8th. Daiwa America upgraded MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $75.00 to $74.00 in a research report on Friday, November 14th. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $76.00 to $75.00 in a report on Monday, November 24th. Finally, The Goldman Sachs Group started coverage on shares of MP Materials in a research note on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Price Performance

Shares of MP stock opened at $69.15 on Thursday. The stock’s 50-day moving average is $57.94 and its 200 day moving average is $62.54. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market cap of $12.25 billion, a P/E ratio of -97.39 and a beta of 1.62.

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

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.