Concurrent Investment Advisors LLC Buys New Shares in MP Materials Corp. $MP

Concurrent Investment Advisors LLC purchased a new position in MP Materials Corp. (NYSE:MP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,206 shares of the company’s stock, valued at approximately $550,000.

Several other institutional investors have also recently made changes to their positions in MP. Caxton Associates LLP bought a new position in shares of MP Materials during the 2nd quarter worth about $132,238,000. Invesco Ltd. boosted its holdings in MP Materials by 14.3% in the second quarter. Invesco Ltd. now owns 3,033,612 shares of the company’s stock worth $100,928,000 after acquiring an additional 378,510 shares in the last quarter. BNP Paribas Financial Markets grew its stake in MP Materials by 76.3% in the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after acquiring an additional 1,264,243 shares during the period. National Bank of Canada FI increased its holdings in shares of 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 valued at $66,987,000 after acquiring an additional 2,003,091 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of MP Materials by 2.0% during the second quarter. Segall Bryant & Hamill LLC now owns 1,196,902 shares of the company’s stock worth $39,821,000 after purchasing an additional 23,888 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group began coverage on shares of MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. Daiwa Capital Markets began coverage on MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Daiwa America upgraded MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MP Materials has an average rating of “Moderate Buy” and an average target price 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 company’s stock in a transaction dated Friday, December 5th. The shares were 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 $824,889,437.10. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction dated Tuesday, December 9th. The stock was 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 of the company’s stock, valued at $9,399,960. This represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 991,557 shares of company stock valued at $62,785,202 in the last quarter. 12.60% of the stock is owned by corporate insiders.

MP Materials Stock Up 3.4%

MP opened at $68.96 on Tuesday. The company’s 50-day moving average price is $58.54 and its two-hundred day moving average price is $63.52. 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 twelve month low of $18.64 and a twelve month high of $100.25. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of -97.13 and a beta of 1.62.

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

MP Materials Company 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.