Banque Transatlantique SA Invests $10.91 Million in MP Materials Corp. $MP

Banque Transatlantique SA acquired a new stake in MP Materials Corp. (NYSE:MP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 162,772 shares of the company’s stock, valued at approximately $10,914,000. Banque Transatlantique SA owned about 0.09% of MP Materials as of its most recent SEC filing.

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

MP Materials Price Performance

Shares of NYSE MP opened at $57.19 on Friday. The firm has a market cap of $10.14 billion, a PE ratio of -109.98 and a beta of 1.55. The company has a fifty day moving average price of $61.65 and a 200 day moving average price of $63.46. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. The Goldman Sachs Group initiated coverage on shares of MP Materials in a research note on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. TD Securities raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $78.91.

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 on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.50% of the stock is owned by company 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.