CENTRAL TRUST Co Boosts Stock Position in MP Materials Corp. (NYSE:MP)

CENTRAL TRUST Co boosted its holdings in MP Materials Corp. (NYSE:MP) by 20.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,965 shares of the company’s stock after buying an additional 678 shares during the quarter. CENTRAL TRUST Co’s holdings in MP Materials were worth $97,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,199 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of MP Materials during the fourth quarter worth about $40,000. IMG Wealth Management Inc. purchased a new position in shares of MP Materials during the fourth quarter worth about $66,000. Finally, CX Institutional purchased a new position in shares of MP Materials during the first quarter worth about $79,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Activity

In other news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.50% of the company’s stock.

MP Materials Price Performance

Shares of NYSE:MP opened at $37.75 on Friday. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The company has a market cap of $6.17 billion, a P/E ratio of -58.08 and a beta of 2.14. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $39.10. The company has a 50-day moving average price of $24.84 and a 200 day moving average price of $23.00.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. MP Materials’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. Research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

MP has been the topic of a number of research reports. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Robert W. Baird raised their price target on MP Materials from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.06.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.