Caxton Associates LLP Takes Position in MP Materials Corp. $MP

Caxton Associates LLP bought a new position in shares of MP Materials Corp. (NYSE:MP) in the second quarter, HoldingsChannel reports. The institutional investor bought 3,974,702 shares of the company’s stock, valued at approximately $132,238,000. MP Materials makes up about 3.4% of Caxton Associates LLP’s holdings, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of MP. National Bank of Canada FI lifted its position in MP Materials by 19,314.3% during the second quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock worth $66,987,000 after acquiring an additional 2,003,091 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of MP Materials by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 412,355 shares of the company’s stock worth $13,719,000 after purchasing an additional 29,369 shares during the period. Evergreen Capital Management LLC lifted its holdings in MP Materials by 28.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 23,482 shares of the company’s stock worth $781,000 after purchasing an additional 5,185 shares during the last quarter. Headlands Technologies LLC bought a new stake in MP Materials in the 2nd quarter valued at $685,000. Finally, Ion Asset Management Ltd. acquired a new position in MP Materials in the 2nd quarter valued at $1,046,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 38,146 shares of MP Materials 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 transaction, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 385,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.94, for a total value of $24,231,900.00. Following the sale, the chief executive officer owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 691,557 shares of company stock worth $43,538,586. Company insiders own 9.50% of the company’s stock.

MP Materials Price Performance

MP stock opened at $56.67 on Friday. The company’s 50-day moving average price is $65.50 and its two-hundred day moving average price is $58.22. The firm has a market cap of $10.04 billion, a P/E ratio of -79.81 and a beta of 1.69. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25.

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

Wall Street Analyst Weigh In

MP has been the subject of a number of research reports. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. Bank of America increased their target price on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group assumed coverage on shares of MP Materials in a report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Company 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.