Campbell & CO Investment Adviser LLC Takes Position in MP Materials Corp. $MP

Campbell & CO Investment Adviser LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,987 shares of the company’s stock, valued at approximately $670,000.

Other hedge funds have also modified their holdings of the company. Miracle Mile Advisors LLC raised its holdings in MP Materials by 1.0% during the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after purchasing an additional 188 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of MP Materials by 1.7% during the third quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of MP Materials by 1.0% during the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after acquiring an additional 204 shares during the period. Sound Income Strategies LLC increased its holdings in shares of MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the period. Finally, Harbour Investments Inc. raised its holdings in shares of MP Materials by 32.9% during the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock valued at $41,000 after buying an additional 302 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MP. The Goldman Sachs Group began coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 price objective on the stock. Bank of America lifted their target price on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and cut their price target for the company from $76.00 to $75.00 in a report on Monday, November 24th. JPMorgan Chase & Co. raised shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $75.00 to $74.00 in a research note on Friday, November 14th. Finally, Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $78.91.

MP Materials Price Performance

NYSE MP opened at $68.44 on Wednesday. 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 firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of -96.40 and a beta of 1.62. The company has a 50 day simple moving average of $58.67 and a 200-day simple moving average of $63.78. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25.

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

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. This represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at $9,399,960. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 991,557 shares of company stock valued at $62,785,202. 12.60% of the stock is owned by corporate insiders.

MP Materials 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.