D.A. Davidson & CO. Sells 16,908 Shares of MP Materials Corp. $MP

D.A. Davidson & CO. lessened its stake in MP Materials Corp. (NYSE:MP) by 45.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,372 shares of the company’s stock after selling 16,908 shares during the period. D.A. Davidson & CO.’s holdings in MP Materials were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position 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 valued at $26,000 after buying an additional 294 shares during the last quarter. Grove Bank & Trust purchased a new stake in MP Materials during the third quarter valued at approximately $34,000. SJS Investment Consulting Inc. boosted its stake in MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after acquiring an additional 552 shares in the last quarter. Hilltop National Bank grew its holdings in MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in MP Materials in the second quarter worth $25,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Trading Up 1.5%

MP Materials stock opened at $61.98 on Friday. The stock has a 50-day moving average price of $57.33 and a 200 day moving average price of $61.89. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of -87.30 and a beta of 1.62. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25. 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 (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 analysts’ consensus estimates 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 company had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the firm posted ($0.12) EPS. MP Materials’s revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on MP shares. Daiwa Capital Markets began coverage on MP Materials in a report on Monday, September 22nd. They set an “outperform” rating and a $80.00 price objective for the company. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. The Goldman Sachs Group began coverage on MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 price target on the stock. Bank of America upped their price objective on shares of MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upgraded shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $75.00 to $74.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.91.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This trade represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the completion of the transaction, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 964,157 shares of company stock valued at $61,031,328. 9.50% of the stock is currently owned by corporate insiders.

About MP Materials

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.