Calamos Advisors LLC Acquires New Shares in MP Materials Corp. $MP

Calamos Advisors LLC acquired a new position in MP Materials Corp. (NYSE:MP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 249,388 shares of the company’s stock, valued at approximately $16,726,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of MP Materials in the second quarter worth approximately $25,000. Sound Income Strategies LLC grew its position in MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the period. AdvisorNet Financial Inc grew its position in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares during the period. MAI Capital Management raised its stake in MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after buying an additional 800 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after buying an additional 651 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 2.8%

MP Materials stock opened at $50.47 on Wednesday. The firm has a 50 day moving average of $58.76 and a 200 day moving average of $60.87. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of -71.09 and a beta of 1.70. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction 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. The trade was a 19.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $24,231,900.00. Following the completion of the transaction, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at $824,889,437.10. This represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 691,557 shares of company stock worth $43,538,586. 12.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on MP Materials in a research report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and cut their price target for the company from $75.00 to $74.00 in a research note on Friday, November 14th. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $76.00 to $75.00 in a research report on Monday, November 24th. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.50 to $71.00 in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.91.

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.