MP Materials Corp. $MP Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC decreased its position in MP Materials Corp. (NYSE:MP) by 51.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,302 shares of the company’s stock after selling 12,057 shares during the quarter. Mutual Advisors LLC’s holdings in MP Materials were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MP. Sound Income Strategies LLC grew its holdings in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after buying an additional 294 shares in the last quarter. Spire Wealth Management boosted its position in MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after acquiring an additional 651 shares during the last quarter. Grove Bank & Trust purchased a new stake in MP Materials in the 3rd quarter worth approximately $34,000. SJS Investment Consulting Inc. grew its stake in MP Materials by 4,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after acquiring an additional 552 shares during the period. Finally, Hilltop National Bank raised its holdings in MP Materials by 500.0% in the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after acquiring an additional 500 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MP shares. The Goldman Sachs Group started coverage on MP Materials in a report on Wednesday, November 19th. They set a “buy” rating and a $77.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a report on Thursday, November 20th. Finally, BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $76.00 to $75.00 in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.91.

MP Materials Stock Down 6.9%

Shares of NYSE:MP opened at $56.40 on Friday. The stock has a 50-day simple moving average of $59.81 and a 200-day simple moving average of $64.90. The stock has a market capitalization of $10.00 billion, a P/E ratio of -79.43 and a beta of 1.60. 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 quick ratio of 7.51 and a current ratio of 8.05.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same quarter last year, the firm posted ($0.12) earnings per share. MP Materials’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 38,146 shares of the 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 completion of the sale, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. This represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 272,600 shares of the business’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 owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 991,557 shares of company stock valued at $62,785,202 in the last three months. Company insiders own 9.50% of the company’s stock.

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.