11,388 Shares in MP Materials Corp. $MP Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in MP Materials Corp. (NYSE:MP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,388 shares of the company’s stock, valued at approximately $764,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sound Income Strategies LLC grew its holdings in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares during the last quarter. Grove Bank & Trust bought a new stake in shares of MP Materials in the 3rd quarter valued at about $34,000. SJS Investment Consulting Inc. boosted its holdings in MP Materials by 4,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after acquiring an additional 552 shares during the period. Hilltop National Bank grew its position in MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after acquiring an additional 500 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after acquiring an additional 277 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Down 4.7%

Shares of MP Materials stock opened at $57.19 on Friday. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a market cap of $10.14 billion, a price-to-earnings ratio of -109.98 and a beta of 1.55. The company’s 50 day moving average is $61.65 and its 200 day moving average is $63.46.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MP shares. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $75.00 to $74.00 in a research report on Friday, November 14th. BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $76.00 to $75.00 in a report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. William Blair reissued an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Finally, DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $78.91.

Insider Activity

In related news, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction on 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 completion of the sale, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.50% of the stock is currently owned by company 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.